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- Jack Mallers, founder of Strike, will lead the new crypto firm Twenty-One Capital as CEO.
- The firm, backed by Tether, SoftBank, and Cantor Fitzgerald, begins with $3.6 billion in Bitcoin reserves.
- Twenty-One Capital aims to go public through a SPAC merger and focus on Bitcoin-native financial innovation.
Jack Mallers, well-known for his leadership at Strike, steps into a new role as CEO of Twenty-One Capital. The firm is a fresh but powerful player in the Bitcoin and digital asset space.
Supported by financial heavyweights Tether, SoftBank, and Cantor Fitzgerald, it enters with solid backing and direction. With extensive Bitcoin history and a vision, Mallers is on board. Assuming leadership at Twenty-One as an executive director, he will also continue to guide Strike.
Twenty One Capital is looking to become a dominant force in finance based on BTC. The business has a stated mission: accumulate BTC , create native financial instruments, and drive shareholder value through long-term planning rather than speculation.
$3.6 Billion in Bitcoin to Convert Into Public Equity
At its launch, Twenty-One will have 42,000 bitcoins valued at $3.6 billion. This will rank it among the top three publicly listed owners of BTC , behind Strategy and Mara Holdings only. This reserve will make Twenty-One a significant Bitcoin-backed organization from day one.
The reserves will be financed by the company’s major stakeholders. Tether is also going to invest $1.5 billion in bitcoins. SoftBank is putting in $900 million, while Bitfinex is putting in $600 million. These will then become shareholdings in the listed company at $10 a share.
The company would raise an additional $585 million for its future growth. It consists of a $350 million convertible bond issue and $200 million in private equity placements. The proceeds will go towards growth, product development, and future acquisitions.
Building a Bitcoin-Native Institution
Twenty One Capital will become listed on public markets by merging with Cantor Equity Partners in an SPAC merger. The company achieves this with access to public markets without sacrificing speed and flexibility. However, Twenty One Capital’s ambitions do not stop at purchasing BTC.
It will also make investments in new Bitcoin-based tools. These may comprise lending platforms, capital market instruments, and other tools that revolutionize traditional finance. The company will also develop educational materials and research to facilitate greater adoption of BTC.
Maller sees this new company as a chance to build a future for finance with principles rooted in Bitcoin. It’s not just about holding BTC. It’s about establishing a Bitcoin-native institution with alignment with long-term holders and builders in this area. With solid backing, a decent-sized treasury, and a clear mission, Twenty-One Capital will become one of the pillars in Bitcoin’s future growth.
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