Important points
- Twenty One Capital, backed by SoftBank and Tether, will begin trading on the New York Stock Exchange under the ticker XXI.
- The company is the third-largest Bitcoin holder among public companies and plans to grow through Bitcoin-centric financial services and products.
Twenty One Capital, a Bitcoin-focused venture company backed by Bitfinex and SoftBank Group, will begin trading on the New York Stock Exchange today following the completion of its business combination with Cantor Equity Partners Inc.
Twenty One, led by Strike founder and prominent Bitcoin advocate Jacques Mallards, currently holds over 43,500 BTC worth $3.9 billion. The company achieved its pre-merger Bitcoin goal in just over three months, making it the third-largest Bitcoin holding company.
“Bitcoin is honest money, which is why people choose it and why we built TwentyOne on it,” TwentyOne CEO Jack Merchants said in a statement. “Listing on the NYSE gives Bitcoin the place it deserves in global markets and provides investors with the best of Bitcoin: its reserve strength and the benefits of Bitcoin-based businesses.”
The company operates a range of Bitcoin-native financial services, capital markets advisory, lending, and educational media, all aimed at accelerating Bitcoin’s role in the global financial system.
The company’s capital strategy aims to increase Bitcoin per share while developing on-chain lending models and capital market products. In addition to accreting financials, Twenty One expects to establish a Bitcoin-centric business line that will generate recurring revenue and expand institutional investors’ exposure to this asset class.
The listing comes as shares of digital asset treasury companies in the U.S. and Canada have plummeted, with a median drop of 43% and some companies falling more than 99%, according to Bloomberg.
This economic downturn came after a period when stock prices rose due to financing used to buy crypto assets. The change in investor sentiment reflects the non-yielding nature of token holdings and the increasing burden of debt interest and dividend obligations.
