Exchanges· ★★★· neutral·

ProCap sells 50 BTC to buy back 12.2% of its shares

  • —Sold about 50 BTC and repurchased an additional 2.2% of shares at a 22% discount to NAV
  • —Cumulative buybacks reached 12.2% of share capital
  • —Bitcoin reserve declined from 5,305 to 5,254 BTC
  • —NAV per share is $3.62 with 84.94 million shares outstanding
Why it matters: The company is the first among bitcoin treasuries to buy back shares at a discount to NAV by selling BTC, changing the reserve accumulation model.
#BTC
Source: TokenPost
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