Jack Mallers’ Twenty One Capital Makes Its NYSE Debut

Twenty One Capital, a Bitcoin-focused company co-founded by Jack Mallers, has officially launched on the New York Stock Exchange under the ticker symbol XXI. The company aims to be the largest publicly traded holder of Bitcoin and has completed its merger with Cantor Equity Partners. Holding 43,514 BTC, valued at approximately $3.9 billion, it stands as the third-largest public corporate Bitcoin holder globally. In addition to Bitcoin exposure, Twenty One Capital is set to create financial products and services rooted in Bitcoin.

Key Takeaways

Twenty One Capital has debuted on the NYSE as ticker XXI.
Co-founded by Jack Mallers, the company aims to be the largest public holder of Bitcoin.
It currently holds over 43,000 BTC worth around $3.9 billion.
The company plans to create financial products that leverage Bitcoin technology.
Major institutional backers include Cantor Fitzgerald, Tether, Bitfinex, and SoftBank.

Jack Mallers’ Twenty One Capital debuts on NYSE

Introduction to Twenty One Capital

Institutionally backed Bitcoin company Twenty One Capital has officially begun public trading on the New York Stock Exchange under the ticker XXI. Co-founded by Jack Mallers, the company strives to become the largest publicly traded holder of Bitcoin. The company’s launch on Tuesday was a significant milestone following its successful business combination with Cantor Equity Partners.

Holding Significant Bitcoin Assets

Twenty One Capital proudly holds a remarkable amount of 43,514 Bitcoin, which is currently valued at around $3.9 billion. This positions the company as the third-largest public corporate holder of Bitcoin, trailing only behind Michael Saylor’s Strategy and MARA Holdings. As Jack Mallers stated on Monday, the day of the trading launch, “Bitcoin is honest money. That’s why people choose it, and that’s why we built Twenty One on top of it.”

Expanding Financial Services

In addition to providing investors with exposure to Bitcoin, Twenty One Capital has plans to create a “corporate architecture” that supports various financial products built with and on Bitcoin. This includes developing native lending models and capital market instruments.

Strong Institutional Support

The company was founded earlier this year with initial support from notable backers such as Cantor Fitzgerald, Tether, Bitfinex, and venture capital giant SoftBank. The involvement of these prestigious names, particularly Cantor, which is a major player among Federal Reserve Primary Dealers, signifies strong institutional validation of Bitcoin amidst a market increasingly influenced by large financial entities.

NYSE, Softbank, Tether

More Than Just Holding Bitcoin

While accumulating Bitcoin is a key strategy for Twenty One Capital, the company also plans to create a range of “Bitcoin-centric operating businesses.” These ventures aim to generate recurring revenue and enhance institutional engagement with Bitcoin, as highlighted in a recent company release.

The company will focus on producing educational content and branded media to promote Bitcoin literacy. Additionally, it intends to launch Bitcoin-aligned alternatives to traditional financial services, indicative of a broader vision to build an ecosystem around Bitcoin beyond mere accumulation.

Conclusion

As Twenty One Capital embarks on its journey as a publicly traded entity, its comprehensive approach that includes accumulation, product development, and education sets it apart in the cryptocurrency landscape. With robust institutional backing and a commitment to enhancing Bitcoin’s utility, the company is poised to make a significant impact in the evolving financial ecosystem.