Twenty One Capital, led by Strike CEO Jack Mallers, has announced plans to go public, trading under the ticker XSI.
The company’s core strategy involves utilizing its operational cash flow exclusively to purchase Bitcoin, aiming to accumulate approximately 420,000 BTC.
This ambitious accumulation goal would position Twenty One Capital among the largest institutional holders of Bitcoin globally.
The initiative is backed by stablecoin issuer Tether and cryptocurrency exchange Bitfinex, who have already facilitated a supporting transfer of $2.7 billion worth of BTC.
Beyond accumulation, Twenty One Capital intends to pioneer Bitcoin-native financial products.
This innovation aims to replace traditional fiat-based corporate finance systems with solutions built directly on the Bitcoin network.
Despite facing regulatory hurdles from the SEC, Mallers expresses optimism regarding the evolving regulatory environment under the current administration.