‘Twenty One’, founded by Jack Mallers and backed by Tether and SoftBank, starts with over 42,000 Bitcoin, making it the third-largest corporate BTC holder.
Company Strategy and Unique Bitcoin Approach
‘Twenty One’ intends to offer public market investors direct exposure to Bitcoin through a newly structured financial vehicle. According to a Financial Times report, the firm is building a multibillion-dollar Bitcoin acquisition vehicle using a strategy similar to MicroStrategy's approach.
"Markets need reliable money to measure value and allocate capital efficiently. We believe that Bitcoin is the answer," said Mallers. "‘Twenty One’ is how we bring that answer to public markets."
Capital Raising and Support from Partners
The company will launch with $585 million raised through PIPE financing and convertible notes. A significant portion of this funding will be allocated towards additional Bitcoin purchases and operational expansion. Tether, a co-founder in the venture, has committed to purchasing Bitcoin equal to the full PIPE raise prior to closing, signaling a strong foundational push towards Treasury Bitcoin accumulation.
Market Positioning in Bitcoin and Corporate Achievements
With 42,000 BTC at inception, ‘Twenty One’ is poised to become a market leader in corporate Bitcoin exposure, following only MicroStrategy and Tesla in raw BTC holdings. Unlike those firms, however, ‘Twenty One’s entire business model is built around Bitcoin from day one.
‘Twenty One’ seeks to establish a leading position in the Bitcoin market, providing a unique business model for public market users and setting a new standard for corporate Bitcoin holders.
