Anthony Pompliano's Bitcoin Treasury ProCap Buys Back Stock Amid 85% Price Plunge
ProCap Financial, led by Anthony Pompliano, is repurchasing its own shares to benefit shareholders and move its market net asset value (mNAV) closer to 1. The firm bought back 148,241 BRR shares worth around $359,000. ProCap's NAV, based on its cash and Bitcoin holdings minus convertible debt, is about $305 million, while its market cap is under $202 million—indicating shares are trading at a significant discount to NAV. Pompliano stated the firm will aggressively continue buybacks as long as the discount persists, arguing it's smarter for the company to buy shares rather than more crypto when the market undervalues the firm’s assets. Currently, ProCap owns 5,007 BTC (approximately $325 million). Since December, it has repurchased around 2% of its outstanding shares. Pompliano personally invested $1 million into ProCap and earns only a $1 salary unless shares rise significantly. BRR shares have fallen about 76% in six months, and Bitcoin prices have declined nearly 49% since October’s high.
