Twenty One Capital made its debut on the NYSE using the ticker XXI on December 9 after merging with Cantor Equity Partners.
The SPAC’s shares opened at $10.74, below their previous closing price of $14.27. By the next day’s close, the stock had dropped to $11.42. This activity resulted in a market capitalization of around $4 billion, based on outstanding shares.
$211.26M
, and SoftBank Group are among the companies supporting Twenty One Capital.
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The chief executive is Jack Mallers, who is also the founder and CEO of the Bitcoin
Currently, the company holds over 43,500 Bitcoin, valued at over $4 billion, which ranks it as the third-largest public company holding Bitcoin, behind MARA Holdings.
Even with these holdings, the firm has not set out a defined business strategy or schedule for launching new services. In a CNBC interview, Mallers said the company operates with a different approach and should not be seen as merely holding assets.
The management plans to build Bitcoin-focused businesses that include brokerage, exchange operations, credit, and lending. Mallers indicated that further information may be shared in the near future.
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