Twenty One Capital Launches as Major Bitcoin-Native Company with $585M Capital Raise
On April 23, 2025, a groundbreaking announcement shook the crypto world: Twenty One Capital, Inc., a Bitcoin-native company, was formed through a business combination involving Tether, SoftBank Group, Jack Mallers, and Cantor Equity Partners, Inc. This new entity is set to list on Nasdaq under the ticker symbol "XXI" after closing.
With a pro-forma enterprise value of $3.6 billion (based on Bitcoin pricing as of April 21, 2025), Twenty One Capital has secured $585 million in capital—$385 million via convertible senior secured notes and $200 million through common equity PIPE financing. The company launches with an impressive Bitcoin holding exceeding 42,000 BTC, positioning it as the third-largest Bitcoin treasury worldwide.
Led by CEO Jack Mallers, a prominent advocate for Bitcoin adoption, Twenty One Capital plans to deploy raised funds to acquire additional Bitcoin and support its operational needs.
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As Twenty One Capital awaits shareholder approval and customary closing conditions, its launch marks a significant milestone in institutional Bitcoin adoption, promising a new era for digital asset investors worldwide.
