Twenty One Capital, a prominent Bitcoin investment firm, is making significant strides towards a new era of digital finance, propelled by a substantial capital injection from stablecoin issuer Tether. With an additional 5.800 BTC, the firm’s total Bitcoin holdings have surged to over 43.500 BTC, positioning it as the third-largest corporate holder globally, trailing only behind industry giants Marathon Digital and Strategy (formerly MicroStrategy).
This strategic boost, announced on July 29, coincides with Twenty One Capital’s preparations for its highly anticipated public listing. On-chain data already indicates over 4.700 BTC have been transferred to the firm’s wallet, pushing its current stash to 43.343 BTC, valued at an impressive $5,1 billion. This accumulation solidifies Twenty One Capital’s standing as a major player in the institutional Bitcoin landscape.
A cornerstone of Twenty One Capital’s innovative approach is the introduction of a new transparency metric: Bitcoin Per Share (BPS). Unlike traditional financial metrics such as earnings-per-share, BPS will allow investors to directly gauge the amount of Bitcoin underpinning each fully diluted share of the company. This novel approach aims to provide unprecedented clarity, enabling shareholders to track performance and value directly in Bitcoin terms. The firm anticipates each share to represent approximately 12.559 satoshis. Furthermore, Twenty One Capital emphasizes its commitment to offering pure Bitcoin exposure, deliberately avoiding legacy liabilities that could dilute its focus or introduce unrelated business risks.
Jack Mallers, CEO and co-founder of Twenty One Capital, articulated the firm’s bold vision: “Twenty One is a new kind of public company: built on Bitcoin, backed with proof, and driven by a vision to reshape the global financial system. We’re not here to beat the existing system, we’re here to build a new one.” This statement underscores a foundational shift in how public companies can structure their balance sheets and engage with digital assets.
Twenty One Capital’s strategy aligns with a growing trend among corporations to adopt Bitcoin treasury strategies, a movement pioneered by Strategy (formerly MicroStrategy). Data from Bitcoin Treasuries reveals that over 100 publicly traded companies collectively hold nearly 1 million Bitcoin on their balance sheets. While some critics express concerns regarding the aggressive accumulation by these firms, market analysts like Joe Consorti, head of growth at Theya Bitcoin, offer a counter-perspective. Consorti dismisses fears of systemic risk, asserting that “Bitcoin treasury companies aren’t a systemic risk. They’re deploying conservative, intelligent leverage, and are years away from true scale. The real risk is being underexposed while institutions remove supply at an accelerating pace.”
As Twenty One Capital prepares for its public debut, its innovative BPS metric and substantial Bitcoin reserves mark a significant development in the institutional adoption of digital assets. The firm’s commitment to transparency and a Bitcoin-first philosophy could indeed pave the way for new models of corporate finance in the evolving global financial system.
Disclaimer: This article is for informational purposes only and should not be taken as financial advice. Always conduct thorough research before making investment decisions.
