Bitcoin Venture Launches with $3.6B Valuation
Twenty One Capital: A New Bitcoin Giant Emerges
Twenty One Capital, Inc., a newly launched Bitcoin-focused venture, has secured significant backing from industry heavyweights Tether, SoftBank, and Cantor Fitzgerald. The company announced its launch on Wednesday, aiming to accumulate over 42,000 BTC, representing a significant investment in the cryptocurrency at current market prices. At press time, this would amount to approximately $3.8 billion.
Key Players and Objectives
- Jack Mallers, founder of Strike, leads Twenty One Capital, aiming to create Bitcoin-native financial products and services.
- Tether and Bitfinex will hold a majority stake post-merger, while SoftBank Group will hold a minority interest.
- The company plans to develop Bitcoin-focused content and media.
- Twenty One will trade under the ticker symbol XXI.
This ambitious venture values Twenty One at $3.6 billion, with $585 million in new capital raised via equity and convertible notes. These funds will fuel further Bitcoin acquisitions and operational expansion.
Market Impact and Future Plans
With its planned acquisition of 42,000 BTC, Twenty One Capital will be positioned as one of the largest Bitcoin holders globally, challenging existing leaders such as Strategy and MARA Holdings. The company will introduce Bitcoin Per Share (BPS) and Bitcoin Return Rate (BRR) performance metrics, clearly reflecting its Bitcoin-centric capital structure.
This launch follows a previous Wall Street Journal report indicating partnerships between Cantor Fitzgerald, SoftBank, Tether, and Bitfinex to establish a substantial Bitcoin investment. This significant development in the crypto space highlights the growing institutional interest and adoption of Bitcoin.
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