Negative capacitance (NC) provides a path to overcome the Boltzmann limit that dictates operating voltages in transistors and, therefore, may open up a path to the challenging proposition of lowering energy consumption and waste heat in nanoelectronic integrated circuits. Typically, NC effects in ferroelectric materials are based on either stabilizing a zero‐polarization state or slowing down ferroelectric switching in order to access NC regimes of the free‐energy distribution. Here, a fundamentally different mechanism for NC, based on CuInP2S6, a van der Waals layered ferrielectric, is demonstrated. Using density functional theory and piezoresponse force microscopy, it is shown that an unusual combination of high Cu‐ion mobility and its crucial role in determining polarization magnitude and orientation (P) leads to a negative slope of the polarization versus the electric field E, dP/dE < 0, which is a requirement for NC. This mechanism for NC is likely to occur in a wide class of materials, offering new possibilities for NC‐based devices. The nanoscale demonstration of this mechanism can be extended to the device‐level by increasing the regions of homogeneous polarization and polarization switching, for example, through strain engineering and carefully selected electric field pulses.