{"id":127830,"date":"2025-04-24T01:18:10","date_gmt":"2025-04-24T01:18:10","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127830"},"modified":"2025-04-24T01:18:10","modified_gmt":"2025-04-24T01:18:10","slug":"strikes-mallers-to-head-firm-seeking-superior-bitcoin-play-to-mstr","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127830","title":{"rendered":"Strike\u2019s Mallers to head firm seeking superior Bitcoin play to MSTR"},"content":{"rendered":"

Source: Cointelegraph.com NewsTwenty One Capital, a new Bitcoin treasury company led by Strike founder Jack Mallers with the support of Tether, SoftBank and Cantor Fitzgerald, is looking to supplant Michael Saylor\u2019s Strategy to become the \u201csuperior vehicle for investors seeking capital-efficient Bitcoin exposure.\u201d
\nTwenty One revealed it plans to launch with 42,000 Bitcoin (BTC) (worth $3.9 billion) with roughly 23,950 BTC coming from Tether, 10,500 BTC from Softbank and 7,000 BTC from Bitfinex, which will be converted into equity at $10 per share, according to an April 23 statement.
\nThe firm is seeking a public listing via a blank-check merger with Cantor Equity Partners and will trade under the ticker XXI on the Nasdaq once it finalizes an agreement with investors to raise $585 million through convertible bonds and equity financing.
\n\u201cOur mission is simple: to become the most successful company in Bitcoin, the most valuable financial opportunity of our time. We\u2019re not here to beat the market, we\u2019re here to build a new one,\u201d said Mallers, the founder and CEO of Bitcoin payments-focused firm Strike.
\n\u201cA public stock, built by Bitcoiners, for Bitcoiners.\u201d
\nTwenty One specifically compared its business model to Strategy\u2019s in an investor presentation to the US Securities and Exchange Commission, claiming it is potentially a \u201csuperior vehicle for investors seeking capital-efficient Bitcoin exposure.\u201d
\nIt claimed that Strategy\u2019s ability to create shareholder value through future Bitcoin purchases will be limited because the firm \u2014 which holds 534,741 BTC \u2014 would need to make even larger investments to increase its Bitcoin Per Share, or BPS, thus diminishing the per-share dollar impact of future capital deployments.
\nTwenty One said it would be a more \u201cpure play\u201d for investors seeking Bitcoin exposure with Bitcoin-native operations and more \u201cflexibility\u201d for strategic capital raises.\u00a0
\nTwenty One Capital\u2019s comparison of its Bitcoin treasury plan with that of Strategy\u2019s. Source: SECA launch of 42,000 Bitcoin would make Twenty One the third-largest corporate Bitcoin holder, trailing only Strategy and Bitcoin mining firm\u00a0 MARA Holdings, which holds 47,600 BTC, according to BitcoinTreasuries.NET data.
\nTwenty One plans to do more than just stack Bitcoin
\nTwenty One also intends to build out several Bitcoin-focused offerings, including Bitcoin debt and equity products, an advisory service, a lending platform and an educational platform.
\n\u201cTwenty One\u2019s mission will be to accelerate Bitcoin adoption and Bitcoin literacy at both institutional and retail levels,\u201d the firm said.
\nRelated: Bitcoin ETF inflows top 500 times 2025 average in ‘significant deviation’
\nThe firm will also partner with industry players to host Bitcoin conferences.
\nTwenty One Capital\u2019s three-stage business plan. Source: SECThe news sparked a massive 54.2% price rally in Cantor Equity Partners (CEP) shares to $16.50 on April 23 and has risen another 25.1% in after-hours, Google Finance data shows. CEP will convert to XXI once the $585 million agreement is completed.
\nThe venture strengthens Tether\u2019s ties with Cantor, which manages US Treasury reserves backing Tether\u2019s USDT, which boasts a market cap of $145.3 billion. Cantor also owns a 5% stake in the stablecoin issuer.
\nTwenty One will be majority-owned by Tether and crypto exchange Bitfinex, while Japanese investment holding firm SoftBank will own a \u201csignificant\u201d minority share.
\nMagazine: Ethereum maxis should become \u2018assholes\u2019 to win TradFi tokenization raceRead More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsTwenty One Capital, a new Bitcoin treasury company led by Strike founder Jack Mallers with the support of Tether, SoftBank and Cantor Fitzgerald, is looking to supplant Michael… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127830"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127830"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127830\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127830"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}