Twenty One Capital Set to Launch on NYSE Following Merger with Cantor Equity Partners

Twenty One Capital, a firm focused on Bitcoin investments and led by Jack Mallers, is primed for its stock market debut on the New York Stock Exchange next week. This follows the successful merger with Cantor Equity Partners, a special purpose acquisition company. With this event, Twenty One Capital is set to become one of the largest corporate holders of Bitcoin.

Key Takeaways

Twenty One Capital is expected to commence trading on the NYSE next Tuesday under the ticker symbol "XXI."
The merger with Cantor Equity Partners has been approved by shareholders.
Upon listing, Twenty One Capital will be the third-largest corporate holder of Bitcoin, holding 43,514 BTC valued at approximately $4 billion.
The cryptocurrency market remains volatile, impacting companies with significant Bitcoin reserves.

Main Content

Twenty One Capital, headed by Jack Mallers and focusing primarily on Bitcoin, anticipates its shares will begin trading on the New York Stock Exchange next Tuesday. This follows the recent merger completion with Cantor Equity Partners, a special purpose acquisition company.

The announcement made on Thursday comes after shareholders of Cantor Equity Partners approved the merger during their meeting, which clears the path for Twenty One Capital to trade under the ticker symbol “XXI.” Final voting details from the meeting will be recorded in an upcoming Form 8-K filing with the U.S. Securities and Exchange Commission.

Launched in April, Twenty One Capital aims to establish one of the largest corporate Bitcoin holdings. Following its listing, the company is projected to become the third-largest corporate Bitcoin holder, behind Michael Saylor's company, Strategy, and MARA Holdings, a key player in the cryptocurrency mining sector.

Source: Jack Mallers

As of now, Twenty One Capital possesses 43,514 BTC, which is valued at roughly $4 billion based on current market data.

Bitcoin Treasury Firms Face Market Pressures

Companies holding substantial Bitcoin reserves are currently experiencing challenges as a significant liquidation event on October 10 triggered the most considerable single-day loss in crypto history, leading to the liquidation of over $19 billion in leveraged positions.

The fallout from this event has caused Bitcoin's value to tumble. After peaking above $126,000 in early October, Bitcoin saw a sharp decline in November, falling to below $80,000 as sell-offs intensified.

The 30 largest public Bitcoin holders by treasury size. Source: BitcoinTreasuries.NET

These market conditions have adversely affected companies with substantial Bitcoin holdings. For instance, Strategy's stock price plummeted, diminishing the premium it previously enjoyed relative to the value of its Bitcoin assets.

In light of this volatility, the effectiveness of corporate Bitcoin treasury strategies is being called into question. The market's ongoing instability and limited liquidity raise concerns that additional downturns could further erode unrealized gains for investors.

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Bitcoin miners face "harshest margin environment of all time" and explore what's next in Crypto carnage — Is Bitcoin’s 4-year cycle over? Trade Secrets.