tl;dr
Twenty One Capital, a Bitcoin treasury firm, has increased its Bitcoin holdings by approximately 5,800 BTC acquired from Tether, bringing its total to 43,500 BTC valued at about $5.1 billion. This could make it the third largest corporate Bitcoin holder. The company, founded through a partnership of...
Twenty One Capital, a Bitcoin treasury firm, has announced an increase in its Bitcoin holdings, adding approximately 5,800 BTC acquired from Tether. This move positions the company to hold a total of 43,500 BTC when it begins trading, potentially making it the third largest corporate Bitcoin holder. At the current price of $117,516 per Bitcoin, this portfolio is valued at around $5.1 billion.
The company, born from a collaboration between Tether, Bitfinex, Cantor Fitzgerald, and SoftBank, emphasizes a strong foundation of partners, capital, and a vision for innovation. CEO and co-founder Jack Mallers expressed confidence in the company's potential, highlighting its ambition to build a new financial system rather than competing with the existing one.
Based in Austin, Texas, Twenty One is set to become one of the top corporate entities in Bitcoin holdings, trailing only Strategy and MARA Holdings. Bitcoin treasuries like Twenty One offer investors exposure to Bitcoin through tradable shares on stock exchanges, bridging traditional finance and cryptocurrency markets.
The company plans to go public via a SPAC merger with Cantor Equity Partners, which trades on Nasdaq under the ticker CEP. Upon launch, Twenty One's shares will be listed under the ticker XXI. The backing firms represent a mix of crypto innovators and traditional financial powerhouses, including Tether, SoftBank, Bitfinex, and Cantor Fitzgerald—a notable Wall Street firm with leadership ties to influential political figures.