ProCap Monetary, Inc. (Nasdaq: BRR) introduced Monday it repurchased two million shares of its widespread inventory at roughly a 50% low cost to its Web Asset Worth, funding the transaction by means of the sale of roughly 52 Bitcoin.
The transfer reduces the share rely whereas leaving the corporate’s Bitcoin reserves largely intact. As of Might 29, 2026, ProCap held roughly 5,405 Bitcoin and reported a NAV per share of roughly $3.47 — in opposition to a closing inventory worth of $2.15 on that date, a spot of roughly 38%.
The corporate stated the buyback was executed at a wider, roughly 50% low cost level, which means shares have been acquired at round $1.74 per share primarily based on the said NAV.
“Since BRR was buying and selling at roughly half of NAV, changing a small quantity of Bitcoin into repurchased shares elevated the quantity of Bitcoin owned by all remaining shareholders,” stated Anthony Pompliano, Chairman and CEO.
ProCap’s logic behind the sale
The arithmetic behind the technique is easy: when a inventory trades at a steep low cost to its underlying asset worth, retiring shares at that low cost transfers extra belongings per share to persevering with holders than an equal direct asset buy would.
ProCap has pursued this strategy since December 2025, when it established a proper share repurchase program. Within the months since, the corporate has disclosed particular person buyback transactions starting from roughly 150,000 to 200,000 shares at reductions between 25% and 35%. Monday’s two-million-share repurchase marks the most important single transaction disclosed thus far.
The corporate cited steadiness sheet sturdiness as the inspiration for the maneuver. At present expense ranges, ProCap stated it has almost 20 years of working runway even when Bitcoin produces zero worth appreciation and the corporate generates no income.
BRR’s market cap stood at roughly $197 million as of June 1, in opposition to a Bitcoin holding valued within the lots of of thousands and thousands at present costs.
ProCap has confronted persistent inventory worth stress since its mid-2025 Nasdaq debut, when shares reached as excessive as $16.25. The inventory has dropped roughly 39% year-to-date in 2026 and greater than 65% since its 2025 peak, a trajectory the corporate has attributed partly to broader market circumstances quite than deterioration in its Bitcoin holdings.
Past treasury administration, the corporate has pushed into adjoining enterprise traces. In April 2026, ProCap launched ProCap Insights, an AI-driven analysis platform constructed on autonomous brokers that produce institutional-grade fairness and macro evaluation.
The corporate additionally acquired CFO Silvia, an AI finance startup, and struck a knowledge partnership with prediction market operator Kalshi to combine real-time contract knowledge into its analysis product.
ProCap stated it would proceed evaluating share repurchase alternatives when BRR trades at a major low cost to NAV. Excellent shares stood at 88,730,996 as of Might 29.