- Twenty One Capital will start trading on the New York Stock Exchange next week under the ticker “XXI.”
- The listing follows a merger with Cantor Equity Partners, approved by shareholders.
- Twenty One Capital holds about 43,514 BTC, valued near $4 billion.
- It aims to be among the largest corporate Bitcoin holders, behind only two major firms.
- Recent market volatility has pressured firms holding large Bitcoin treasuries.
Twenty One Capital, a company focused on Bitcoin, will begin trading shares on the New York Stock Exchange next Tuesday. This move follows the completion of its merger with Cantor Equity Partners, a special purpose acquisition company. The shareholder vote approving the deal took place at Cantor’s recent meeting, with final results expected to be disclosed in an upcoming filing with the U.S. Securities and Exchange Commission.
Launched in April, Twenty One Capital aims to build one of the largest corporate Bitcoin (BTC) treasuries. Early investors include firms such as Cantor Fitzgerald, Tether, Bitfinex, and venture capital firm SoftBank. With 43,514 BTC on its balance sheet, the company’s Bitcoin holdings are valued at roughly $4 billion according to industry data. Upon listing, it is expected to become the third-largest corporate owner of Bitcoin, trailing only Michael Saylor’s company, Strategy, and MARA Holdings, a major cryptocurrency mining firm.
Recent market events have affected firms with substantial Bitcoin reserves. On October 10, over $19 billion worth of leveraged cryptocurrency positions were liquidated, marking the largest single-day wipeout in crypto history. Bitcoin’s price dropped significantly, falling from a peak above $126,000 in early October to below $80,000 in November due to intensified sell-offs.
This downturn has impacted the stock prices and valuation premiums of companies holding large Bitcoin treasuries. For instance, Strategy experienced a sharp decline in its stock value. The recent price volatility and reduced liquidity in Bitcoin markets have raised concerns about the sustainability of corporate Bitcoin treasury strategies during prolonged market instability.
BitcoinTreasuries.NET tracks the largest public Bitcoin holders by treasury size, illustrating the concentration and market exposure of these companies.
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