Jack Mallers, CEO of Twenty One, shares his views on the differences between Bitcoin and Ethereum for corporate treasuries, highlighting Bitcoin's advantages.
Mallers' Arguments for Bitcoin
Jack Mallers argues that Ethereum heavily depends on shifting technology trends and stablecoin usage, while Bitcoin serves a clearer goal: preserving purchasing power. He emphasizes Bitcoin's market scale, which attracts large pools of capital.
Twenty One's Plans for Going Public
Twenty One is preparing to go public with partners at Canter Equity. Mallers states that the company holds the third-largest corporate bitcoin position, currently in escrow until the listing process concludes. The business focuses on developing software and financial services utilizing Bitcoin's ruleset.
Comparison of Bitcoin and Ethereum Approaches to Asset Management
Mallers notes that stablecoin founders back a company that accumulates BTC and that Tether's public reports indicate bitcoin holdings rather than ETH. He underlines that Bitcoin's supply is capped at 21 million, preventing dilution of assets. On the other side, Joseph Chalom, co-CEO of SharpLink Gaming, supports an ETH treasury due to its user-friendly rules and role in DeFi and asset tokenization.
In conclusion, treasurers face a choice between two paths: Bitcoin fits a reserve-of-value mandate, while Ethereum relies on network activity and its fee generation approach.
