- Twenty One Capital, backed by Tether, is looking to go public soon.
- The company plans to buy a lot of Bitcoin and offer new Bitcoin-focused financial products.
Twenty One Capital, a new company focused on Bitcoin and supported by Tether, is getting ready to list its shares on a stock exchange. Led by CEO Jack Mallers, the company hopes to get approval to trade under the symbol XSI. This move is part of a larger strategy to make Bitcoin a bigger part of how companies manage their money.
A New Way to Buy Bitcoin
Once listed, Twenty One Capital has a clear goal: to buy as much Bitcoin as possible. Jack Mallers has said they will use the company’s earnings to fund these purchases. This means they won’t rely on borrowing money to build their Bitcoin holdings, making their approach more stable and sustainable. This strategy aims to make Twenty One Capital a major holder of Bitcoin in the market.
Mallers also mentioned that they are working with the SEC (U.S. Securities and Exchange Commission), which shows they are dealing with the rules and regulations around cryptocurrencies. Despite these challenges, Mallers is hopeful about how the current government might view crypto.
Twenty One Capital’s business model is different because it focuses on using money earned from its operations to buy Bitcoin. This sets it apart from some other companies that often take on a lot of debt to buy digital assets. Mallers believes this method will lead to a more long-term and secure way of holding Bitcoin.
Beyond just buying Bitcoin, Twenty One Capital plans to create new financial products built specifically for Bitcoin. These could include different ways to lend money or other financial tools that use Bitcoin directly, potentially changing how traditional finance works. The company’s main aim is not just to gather Bitcoin, but also to increase its value for shareholders over time. This focus on having more Bitcoin per share is what makes Twenty One Capital unique.
The upcoming public listing of Twenty One Capital and its plans to buy a large amount of Bitcoin show a new direction for how companies are adopting cryptocurrencies. With the strong support from Tether and Jack Mallers’ vision, Twenty One Capital is expected to become an important player among corporate Bitcoin holders. Recently, Tether and Bitfinex moved a significant amount of Bitcoin, around $2.7 billion, to Twenty One Capital to help it reach its goal of holding 420,000 Bitcoin.Â
Just a month before, the company bought 4,812 Bitcoin, which made it the third-largest Bitcoin holder globally. Since then, they have made more purchases to keep this position. The newly acquired BTC increases Twenty One Capital’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.