ProCap Launches Share Buyback to Narrow Discount, Holds 5,007 Bitcoin

ProCap Financial was founded in 2025 and raised more than $750 million before listing on Nasdaq through a SPAC merger. Its core strategy is to hold Bitcoin on its balance sheet. When its shares trade below net asset value per share, the company also buys back stock, increasing shareholders’ proportional exposure to its Bitcoin holdings.

On March 2, 2026, ProCap Financial announced that it had purchased 450 Bitcoin for about $35 million, lifting its total holdings to 5,457 BTC and making it the world’s 19th-largest publicly traded corporate holder of Bitcoin. It also repurchased 782,408 shares over the preceding 10 days. CEO Anthony Pompliano said the company would continue buying Bitcoin on price declines and repurchasing shares when they trade below NAV.

ProCap Financial (Nasdaq: BRR), led by bitcoin investor Anthony Pompliano, went public after raising more than $750 million in 2025 and primarily holds bitcoin as a balance-sheet reserve. With its shares trading below net asset value for an extended period, the company established a buyback program in December 2025 to repurchase stock at discounted prices and improve both asset value per share and market confidence.

ProCap Financial repurchased 148,241 common shares on the open market on February 20, 2026. It announced on February 23 that buybacks would continue while its shares traded below NAV. At the time, the company held 5,007 bitcoin worth about $335 million, roughly $70 million in cash and $100 million in convertible debt. Its NAV was about $305 million, or $3.65 per share, while the stock traded at an approximately 35% discount.