Particle.news
Download on the App Store
9 ARTICLES
·
2w ago

ProCap Adds 450 Bitcoin, Accelerates $100 Million Buybacks as NAV Discount Narrows

Management is using repurchases to close a persistent gap between BRR’s market value versus its underlying assets.

Photo: Eva Marie Uzcategui/Bloomberg
Procap buys 450 bitcoin amid middle east tensions, steps up share buybacks
Anthony pompliano’s procap financial buys 450 bitcoin, steps up share buybacks
Image

Overview

  • ProCap acquired 450 BTC on March 2, lifting its treasury to 5,457 Bitcoin and lowering its average cost per coin.
  • The purchase was funded with roughly $35.4 million from working capital and option exercises, according to an SEC filing.
  • Under a $100 million authorization, the company bought back about 782,408 shares over roughly 10 days at 25%–35% discounts to estimated NAV.
  • Management said buybacks will continue while BRR trades below NAV, targeting higher per‑share value for remaining investors.
  • BRR closed up 5.43% to $2.7944 as estimates pointed to a smaller discount with an mNAV around 0.68, and ProCap now ranks among the top 20 public corporate Bitcoin holders.