According to Businesswire, ProCap Financial, Anthony Pompliano’s Bitcoin treasury company, announced it has sold approximately 50 bitcoins, using the proceeds to repurchase over 2% of its outstanding shares at a discount of approximately 40% to net asset value (NAV). ProCap Financial stated that, since launching its share repurchase program, it has cumulatively repurchased approximately 10% of outstanding shares and, as of the close of trading on September 2, held approximately 5,305 bitcoins. The company will continue to evaluate opportunities to repurchase shares when the stock trades at a significant discount to NAV.
ProCap Financial sells 50 BTC to repurchase over 2% of shares at a 40% discount to NAV
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Summary
ProCap Financial, led by Anthony Pompliano, sold 50 BTC to repurchase over 2% of its shares at a 40% discount to NAV. Since launching its buyback program, the firm has repurchased 10% of its shares and holds 5,305 BTC as of September 2. The company will continue evaluating BTC purchase opportunities when shares trade below NAV. Today’s BTC news underscores ongoing buyback activity amid a significant NAV discount.
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