Twenty One Capital, Inc. launches with aims to acquire over 42,000 BTC, supported by Tether, SoftBank, and Cantor Fitzgerald. CEO Jack Mallers leads the venture, which plans innovative Bitcoin financial products and will trade under ticker XXI. The venture is valued at $3.6 billion, utilising $585 million in new capital for expansion and asset acquisition.
Twenty One Capital, Inc. is a Bitcoin-centric venture supported by prominent investors such as Tether, SoftBank, and Cantor Fitzgerald, aiming to amass over 42,000 Bitcoin (BTC). At a current Bitcoin price near $92,500, this represents a significant asset value of roughly $3.8 billion. This ambitious program seeks to position Twenty One among the top holders of Bitcoin globally, competing with Strategy and MARA Holdings, which possess 534,741 and 47,600 BTC, respectively.
Led by Jack Mallers, the founder of Strike, Twenty One Capital intends to develop innovative Bitcoin-focused financial products and media content. Mallers emphasises the necessity for reliable monetary systems to effectively allocate capital, viewing Bitcoin as a pivotal solution. The venture will trade under the ticker symbol XXI after merging with Cantor Equity Partners.
The merger values Twenty One at approximately $3.6 billion and includes $585 million in new investment capital obtained from equity and convertible notes. These funds are earmarked for further Bitcoin acquisitions and operational expansion, ensuring substantial growth potential for the venture. Post-merger, Tether and Bitfinex will maintain a majority stake, while SoftBank retains a minority interest.
In a statement, Paolo Ardoino of Tether underscored Bitcoin’s unique qualities as a decentralized and stable asset, endorsing it as a cornerstone of future financial systems. Additionally, Twenty One will implement two key performance measures: Bitcoin Per Share (BPS) and Bitcoin Return Rate (BRR), reflecting the company’s Bitcoin-denominated capital structure.
