Bitcoin News Today: Twenty One Capital to List July 29 with 43,500 BTC, Third Largest Holdings, Introduces Bitcoin-Per-Share Metric

Twenty One Capital is set to list on the stock market on July 29, 2025, with a corporate treasury containing over 43,500 Bitcoin (BTC), positioning the firm as the third-largest corporate BTC holder globally [2]. The recent addition of 5,800 BTC from Tether has solidified this position, with the company’s total holdings now valued at approximately $5.1 billion as of early July [4]. This strategic accumulation, including prior transfers of over 4,700 BTC, underscores Twenty One Capital’s commitment to Bitcoin as a core asset [2]. The firm will trade under the ticker symbol XXI, signaling its focus on Bitcoin-centric growth and institutional adoption.

The listing introduces a novel financial metric: "Bitcoin Per Share" (BPS), which measures the amount of Bitcoin attributable to each outstanding share. This innovation aims to provide investors with a direct, Bitcoin-denominated view of the company’s performance, reducing reliance on fiat-based valuations and mitigating volatility discrepancies observed in other corporate Bitcoin investments [10]. By tying value to BTC rather than traditional currencies, the BPS metric offers granular transparency, aligning with broader industry efforts to standardize reporting for crypto-backed assets.

The firm’s strategy is backed by major industry players, including Tether, Bitfinex, and SoftBank, which have collectively supported its vision of building a financial system centered on Bitcoin [1]. CEO Jack Mallers emphasized this ambition, stating, “We believe Bitcoin deserves a public company worthy of its ethos. With the partners, capital, team, and structure we’ve assembled, we feel like we can do anything, and we’re just getting started.” The firm’s aggressive acquisition strategy and innovative metrics have already positioned it as a significant market mover, with an average purchase price of $87,280.37 per BTC [7].

While Twenty One Capital’s holdings trail behind MicroStrategy’s, its rapid growth in Bitcoin adoption and competitive treasury size—rivaling MARA Holding—highlight the accelerating integration of Bitcoin into institutional portfolios [7]. Analysts suggest the public listing could catalyze further adoption of Bitcoin-focused strategies, particularly if the BPS metric gains traction as a benchmark [7]. However, the firm faces regulatory scrutiny over crypto-based equities, with investors weighing Bitcoin’s inherent volatility against its long-term value [6].

The listing marks a milestone in corporate Bitcoin investment, offering a regulated vehicle for exposure to the cryptocurrency. By introducing the BPS metric, Twenty One Capital aims to address gaps in traditional financial frameworks and set a new standard for transparency in crypto-backed assets. Its success will depend on market acceptance of the metric, regulatory alignment, and broader macroeconomic trends in 2025 [6].

Source:

[1] Business Wire. [https://www.businesswire.com/news/home/20250729447172/en/Twenty-One-Expects-to-Add-5800-Bitcoin-Before-Planned-Listing-Increasing-Holdings-to-At-Least-43500-BTC](https://www.businesswire.com/news/home/20250729447172/en/Twenty-One-Expects-to-Add-5800-Bitcoin-Before-Planned-Listing-Increasing-Holdings-to-At-Least-43500-BTC)

[2] CryptoSlate. [https://cryptoslate.com/twenty-one-capital-rises-to-3rd-largest-bitcoin-holder-following-5800-btc-boost-from-tether/](https://cryptoslate.com/twenty-one-capital-rises-to-3rd-largest-bitcoin-holder-following-5800-btc-boost-from-tether/)

[4] Traders Union. [https://tradersunion.com/news/cryptocurrency-news/show/404691-tether-transfers-5800-btc/](https://tradersunion.com/news/cryptocurrency-news/show/404691-tether-transfers-5800-btc/)

[6] Investing.com. [https://www.investing.com/news/cryptocurrency-news/twenty-one-capital-expects-to-receive-5800-bitcoin-from-tether-ahead-of-listing-432SI-4157577](https://www.investing.com/news/cryptocurrency-news/twenty-one-capital-expects-to-receive-5800-bitcoin-from-tether-ahead-of-listing-432SI-4157577)

[7] The BTC Times. [https://btctimes.com/twenty-one-capital-to-add-5-800-bitcoin-through-tether-deal-and-become-third-largest-corporate-holder/](https://btctimes.com/twenty-one-capital-to-add-5-800-bitcoin-through-tether-deal-and-become-third-largest-corporate-holder/)

[10] CoinCentral. [https://coincentral.com/twenty-one-capital-announces-5800-btc-addition-ahead-of-wall-street-debut/](https://coincentral.com/twenty-one-capital-announces-5800-btc-addition-ahead-of-wall-street-debut/)