Anthony Pompliano's Bitcoin Treasury ProCap Buys Back Stock Amid 85% Price Plunge
Decrypt
by Logan HitchcockFebruary 23, 2026
AI-Generated Deep Dive Summary
ProCap Financial, led by crypto influencer Anthony Pompliano, is repurchasing shares of its publicly traded Bitcoin treasury firm, BRR, amid a significant decline in its stock price. The firm’s market cap now trades well below the value of its assets, which include 5,007 BTC worth approximately $325 million. This buyback strategy aims to benefit shareholders by increasing the company’s net asset value (NAV) and bringing its market-to-asset ratio closer to 1.
ProCap recently repurchased over 148,000 shares valued at nearly $359,000, reflecting a substantial discount compared to its NAV of around $305 million. Pompliano emphasized that the firm is leveraging this opportunity to acquire undervalued assets, aligning with the principle of buying low when market conditions favor such moves. The company’s shares have fallen by 85% from last year’s peak and dropped 76% over the past six months, trading at $2.42 per share as of Monday.
This move is not unique to ProCap; it follows a trend among major crypto treasuries like MicroStrategy, which have seen their premiums decline alongside falling Bitcoin and Ethereum prices. With its market cap now under $202 million, ProCap joins other firms in repurchasing shares when their mNAV falls below 1. Pompliano also personally invested $1 million in the firm’s shares last December, signaling confidence in the strategy.
The broader implications of this trend highlight the current bearish sentiment in the crypto market and the potential risks associated with holding digital assets. As Bitcoin continues to drop nearly 4% over the past 24 hours, trading at $64,888
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Originally published on Decrypt on 2/23/2026