Jack Mallers, co-founder and CEO of Strike, has been named co-founder and CEO of Twenty One Capital, Inc., a brand new Bitcoin-native agency making ready to go public through a SPAC merger with Cantor Fairness Companions. The corporate plans to commerce below the ticker $XXI and can launch with an preliminary treasury of greater than 42,000 Bitcoin—making it the third-largest company Bitcoin holder on the earth.
Backed by Tether and SoftBank, Twenty One enters the market with a transparent mission: to maximise Bitcoin possession per share and provide buyers direct publicity to Bitcoin through a public firm construction. Final night time, the Monetary Occasions reported that “The consortium is creating a multibillion-dollar bitcoin acquisition vehicle that will absorb billions in cryptocurrency from the other partners and use the funds in an attempt to replicate the success of MicroStrategy.”
“Markets need reliable money to measure value and allocate capital efficiently,” mentioned Jack Mallers. “We believe that Bitcoin is the answer, and Twenty One is how we bring that answer to public markets. Our mission is simple: to become the most successful company in Bitcoin, the most valuable financial opportunity of our time. We’re not here to beat the market, we’re here to build a new one. A public stock, built by Bitcoiners, for Bitcoiners.”
Twenty One will debut with $585 million in capital raised by way of PIPE financing and convertible notes, with funds earmarked for added Bitcoin purchases and basic operations. Tether, a co-founder of the enterprise, has dedicated to buying Bitcoin equal to the total PIPE increase forward of closing.
“Bitcoin is one of the only truly decentralized, immutable, and censorship-resistant asset, and its role as the foundation of a new financial system is inevitable,” mentioned Paolo Ardoino, CEO of Tether. “With Jack at the helm, we are proud to support this effort to further Bitcoin’s adoption and reinforce its role as the ultimate store of value. At Tether, we have always believed in supporting initiatives that strengthen Bitcoin’s dominance and real-world utility. Twenty One will take a Bitcoin-first approach that aligns with our vision—prioritizing accumulation over speculation and building long-term value for those who understand what Bitcoin represents.”
With its twin deal with monetary merchandise and Bitcoin-centered media, Twenty One goals to evolve the MicroStrategy, now rebranded to Technique, mannequin right into a broader platform for Bitcoin-native innovation, providing new capital market devices, lending fashions, and pro-Bitcoin content material for public shareholders.
