ProCap Financial, (BRR), which calls itself the first publicly traded agentic finance firm, has begun its share repurchase program aimed at closing the discount between its stock price and net asset value (NAV).

The company said it bought 148,241 BRR shares in the open market on Feb. 20. That implies a purchase price in the area of $2.30 per share, for a total amount of roughly $341,000. It's not exactly a mammoth purchase, given the company has raised more than $750 million from investors and currently holds more than 5,000 bitcoin worth about $335 million on its balance sheet.

The company further said the shares were purchased at roughly a 35% discount to the net asset value of the bitcoin it holds.

"We were able to buy $1.00 of our stock for approximately $0.65 last week," said
Chairman and CEO Anthony Pompliano. "We plan to aggressively buy as much of our stock as we can as long as the market will sell us shares at a substantial discount to NAV."

BRR shares are modestly outperforming other bitcoin treasury companies in U.S. Monday morning trade, rising 3% to $2.42.