Twenty One Capital Prepares Public Listing to Buy 420,000 Bitcoin

Twenty One Capital, a company backed by Tether, is preparing to go public, marking a significant move in the cryptocurrency industry. The company, led by CEO Jack Mallers, aims to list its shares on a stock exchange under the symbol XSI. This initiative is part of a broader strategy to integrate Bitcoin more deeply into corporate financial management.

Once listed, Twenty One Capital plans to aggressively purchase Bitcoin, using the company’s earnings to fund these acquisitions. This approach avoids the risks associated with borrowing money to build Bitcoin holdings, ensuring a more stable and sustainable growth strategy. The goal is to position Twenty One Capital as a major holder of Bitcoin in the market.

Mallers has also highlighted the company’s engagement with the SEC, indicating a commitment to navigating the regulatory landscape surrounding cryptocurrencies. Despite the challenges, Mallers expresses optimism about the current government’s stance on crypto, suggesting a favorable environment for the company’s ambitions.

Twenty One Capital’s business model is distinctive in its focus on using operational earnings to buy Bitcoin, differentiating it from other companies that often rely on debt to acquire digital assets. Mallers believes this method will lead to a more secure and long-term approach to holding Bitcoin.

In addition to purchasing Bitcoin, Twenty One Capital plans to develop new financial products tailored specifically for Bitcoin. These could include innovative lending options and other financial tools that leverage Bitcoin directly, potentially transforming traditional finance. The company’s primary objective is to increase the value of Bitcoin for its shareholders over time, with a focus on maximizing the amount of Bitcoin per share.

The upcoming public listing of Twenty One Capital and its ambitious Bitcoin buying spree signal a new direction in corporate adoption of cryptocurrencies. With strong support from Tether and Mallers’ visionary leadership, Twenty One Capital is poised to become a key player among corporate Bitcoin holders. Recently, Tether and Bitfinex transferred a substantial amount of Bitcoin, approximately $2.7 billion, to Twenty One Capital to help it achieve its goal of holding 420,000 Bitcoin.

Just a month prior, the company acquired 4,812 Bitcoin, securing its position as the third-largest Bitcoin holder globally. Since then, Twenty One Capital has continued to make purchases to maintain this ranking. The newly acquired BTC increases the company’s total holdings to 36,312 BTC. Of this amount, 31,500 BTC is held on behalf of the company by Cantor Equity Partners, as disclosed in the SEC filing.