Strike CEO and founder Jack Mallers is set to lead Twenty-One Capital, a newly formed bitcoin treasury company with financial backing from stablecoin powerhouse Tether and major Japanese investor Softbank, according to a press release issued Wednesday.
The firm has also finalized a business combination agreement with Cantor Equity Partners (CEP), a special purpose acquisition company (SPAC) led by Brandon Lutnick—the son of U.S. Secretary of Commerce, Howard Lutnick. Together, Twenty-One and CEP have secured $585 million through equity financing and convertible notes, which will be used primarily to acquire more bitcoin and support broader corporate operations, the statement said.
In contrast to firms like Strategy (Nasdaq: MSTR) and Metaplanet, which transitioned from other industries into BTC strategy, Twenty-One Capital is believed to be the first publicly traded company founded explicitly for bitcoin treasury management.
Massive Bitcoin Holdings and Bold Vision Define Twenty One Capital’s Market Entry
The company is set to debut with an impressive cache of nearly $4 billion in BTC—approximately 42,000 BTC—positioning it as the third-largest publicly traded holder of bitcoin, trailing only Strategy and the mining giant Marathon Digital Holdings (Nasdaq: MARA). Twenty One Capital’s core objective will be to expand its bitcoin holdings to enhance its BTC Per Share (BPS) and Bitcoin Return Rate (BRR) metrics.
“Our goal is straightforward: to become the most successful company in the BTC space,” Mallers stated. “We’re not aiming to outperform the existing market—we’re focused on creating an entirely new one. This is a public company built by Bitcoiners, for Bitcoiners.”
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