Twenty One Capital May Become Third-Largest Bitcoin Holder After Adding 5,800 BTC Pre-IPO

Key Points

1. Twenty One Capital, led by Jack Mallers, will acquire 5,800 Bitcoin before its NASDAQ listing, increasing its total holdings to over 43,500 BTC.

2. Tether is a key partner in the acquisition, providing the majority of the 5,800 BTC, highlighting its confidence in Bitcoin’s long-term value.

3. The public listing is expected to complete in Q3 2024, pending SEC approval.

4. The SEC is conducting a thorough review of the listing application, reflecting regulatory challenges for crypto IPOs.

5. The acquisition underscores growing institutional trust in Bitcoin and could influence its liquidity and price dynamics.