Breaking Jack Maller’s Twenty One Capital Debuts On Nyse
Twenty One Capital launched on the NYSE with strong institutional backing and a massive Bitcoin treasury.
Institutionally-backed Bitcoin native company Twenty One Capital has launched for public trading on the New York Stock Exchange under the ticker XXI.
The Jack Mallers co-founded company has the ambition of becoming the largest publicly-traded holder of Bitcoin (BTC), and its Tuesday US launch follows the completion of its business combination with Cantor Equity Partners.
Twenty One Capital holds 43,514 Bitcoin, worth roughly $3.9 billion, making it the world’s third-largest public corporate holder of the asset after Michael Saylor’s Strategy and MARA Holdings.
“Bitcoin is honest money. That’s why people choose it, and that’s why we built Twenty One on top of it,” Mallers said on Monday, the day his firm began trading.
In addition to offering investors exposure to Bitcoin, Twenty One Capital intends to develop a “corporate architecture” that supports financial products built with and on Bitcoin, including native lending models and capital market instruments.
The company launched in April with early backing from Cantor Fitzgerald, Tether, Bitfinex and venture capital firm SoftBank. The big-name backers, such as American financial services giant Cantor, provide another institutional endorsement of the asset, which has seen markets and trading dominated by institutions this year.
Mitchell Askew, head of Blockware Intelligence, said, “This isn’t your average DAT whose primary strategy is hiring a C-tier Bitcoin influencer with a few thousand followers to bull post 24/7. The groups backing XXI are connected with the most powerful institutions in the world.”
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Cantor is a Federal Reserve Primary Dealer led by the sons of the Secretary of Commerce, Tether is the top stablecoin issuer and a major US Treasury holder, SoftBank manages $330 billion in assets, and Mallers founded Strike and comes from a prominent financial family.
Source: CoinTelegraph
