Anthony Pompliano’s ProCap Buys 450 BTC, Gold Bug Peter Schiff Reacts

In the latest Bitcoin News, Anthony Pompliano’s ProCap Financial disclosed it bought 450 Bitcoin as part of its treasury strategy. The purchase, announced by the company, lifted total holdings to 5,457 BTC, while shares trade on Nasdaq under the ticker BRR. The firm said it acted as Bitcoin pulled back from its all-time high and its stock traded below net asset value.

Bitcoin News: ProCap Expands Holdings, Narrows NAV Gap

In a press release, ProCap said the new acquisition reduced its average cost basis per Bitcoin. Notably, the company also repurchased 782,408 common shares over the past 10 days. It executed those buybacks at what it described as a significant discount to net asset value.

The company added that the NAV discount narrowed during that period. It attributed the shift to the early impact of the repurchase program. ProCap stated it will continue buying back shares while BRR trades at a meaningful discount.

According to the company, it has 82,640,367 total basic shares outstanding. This release comes as Michael Saylor’s Strategy acquired 3,015 BTC for $204.1 million at an average price of $67,700 per Bitcoin. It described itself as the first publicly traded agentic finance firm. Founded in 2025, ProCap said it raised more than $750 million from investors.

Pompliano Defends Strategy as Schiff Challenges Logic

Pompliano addressed the move on X. He said the firm continues to acquire Bitcoin while repurchasing discounted shares. He added that both actions aim to benefit shareholders through balance sheet discipline.

However, economist and gold advocate Peter Schiff questioned the approach publicly. He asked why ProCap would buy more Bitcoin while its shares trade below NAV. Schiff argued that buying discounted shares offers a cheaper way to gain Bitcoin exposure.

Pompliano responded that regulatory limits restrict daily repurchases. He said the company aims to maximize the allowed amount each day. Over the last 10 days, he noted, repurchases totaled less than one million shares.

He added that those limits slow efforts to reduce the share count. Nevertheless, he said the company will continue executing within regulatory boundaries. The exchange shows the differing views on capital allocation during Bitcoin volatility.

Bitcoin Price Tests Resistance as Analyst Flags Pattern

At press time, the BTC price was at $67,012. Price rebounded from the $63,000 to the $64,000 demand zone. It now tests mid-range resistance between $67,000 and $68,000.

Source: TradingView

Repeated rejections appear near $68,500 to $69,000. Meanwhile, support is around $65,000, with stronger backing near $63,000. The higher low formation from Feb. 28 into March points to a firmer short-term structure.

According to analyst Milk Road, Bitcoin just logged its fifth consecutive red month and approaches a sixth. The analyst noted a similar stretch occurred in 2018 and 2019. He reported that the prior six-month decline preceded a 316% return over five months.