Twenty One Capital to Add 5,800 Bitcoin Pre-Listing
- Jack Mallers’ firm boosts BTC holdings significantly pre-IPO.
- 5,800 Bitcoin added pre-IPO.
- Third-largest public Bitcoin holder upon completion.
Twenty One Capital, led by Jack Mallers, plans to add 5,800 Bitcoins to its holdings ahead of a public market listing, becoming the third-largest corporate Bitcoin holder globally.
The acquisition of 5,800 BTC by Twenty One Capital, backed by Tether, strengthens its market position and could impact Bitcoin’s liquidity and market dynamics, drawing attention to public cryptocurrency treasuries.
Twenty One Capital, led by Jack Mallers, plans to bolster its Bitcoin treasury by acquiring an additional 5,800 Bitcoin before going public. This strategic move will raise the firm’s holdings to over 43,500 BTC.
Jack Mallers and Tether spearhead this initiative, increasing Twenty One’s significance in Bitcoin investment. Tether provides most of the BTC, emphasizing the collaboration. Their actions may position Twenty One as a crucial Bitcoin player.
This acquisition affects Bitcoin markets, potentially influencing liquidity and prices. The purchase is significant enough to impact global markets, with experts watching closely for shifts. The NASDAQ listing through Cantor Equity Partners underscores institutional interest.
Financially, the addition enhances Twenty One’s profile as it advances towards a public market presence. The merger with a NASDAQ SPAC aligns with their strategy, proving favorable scrutiny from financial regulators and encouraging investor interest.
Regulatory scrutiny remains, with the SEC reviewing the listing application closely. The anticipated public offering is expected to complete by the third quarter, pending approval.
The increased holdings might drive shifts in Bitcoin valuation patterns. Observers expect technological adoption to grow through broader institutional acceptance, with Tether’s involvement underscoring confidence in the asset’s potential.
Jack Mallers, CEO, Twenty One Capital, “We expect that our public listing will be completed in the third quarter following a US Securities and Exchange Commission review. The firm now owns over $5 billion in bitcoin.” — Bloomberg
