Just saw that ProCap Financial (BRR) started buying back its own shares at like a 35% discount to NAV. They grabbed about 148k shares for roughly $341k in early February. CEO Pompliano's take was pretty straightforward - they're basically getting a dollar's worth of stock for 65 cents, so they're gonna keep buying aggressively while the discount holds.

The numbers are interesting though. Company's sitting on over 5,000 bitcoin worth around $365 million now, plus $70M in cash and $100M in convertible debt. They've raised over $750M total. So this buyback isn't exactly huge in the grand scheme of things, but it shows they're serious about closing that gap between stock price and actual asset value.

BRR was up 3% to $2.42 in Monday trading, outpacing other crypto treasury plays. The whole thing feels like a smart move when your stock's trading at a discount - basically using company cash to create value for remaining shareholders. Wonder how long they can keep this up though.