Jack Mallers Leads Twenty One Capital into Bitcoin Market With 42,000 BTC Arsenal

The cryptocurrency industry is witnessing a significant shift as Jack Mallers, already known for co-founding Strike, is now taking the helm of Twenty One Capital, Inc., a newly launched Bitcoin-native corporation preparing to enter public markets. The company plans to trade under the ticker $XXI through a SPAC merger with Cantor Equity Partners, positioning itself as a major player in institutional Bitcoin ownership. With an initial Bitcoin treasury exceeding 42,000 BTC, Twenty One Capital secures its place as the third-largest corporate holder of Bitcoin globally.

From Strike to Bitcoin Leadership: Jack Mallers’ New Venture

Jack Mallers has built a reputation in the Bitcoin ecosystem through Strike, his lightning network-powered payments application. His transition to lead Twenty One Capital reflects a strategic pivot toward Bitcoin accumulation and market infrastructure. According to reporting from the Financial Times, the consortium behind Twenty One Capital is constructing a multibillion-dollar Bitcoin acquisition vehicle with the explicit goal of replicating the success achieved by MicroStrategy—now rebranded as Strategy—in corporate Bitcoin holdings.

A Bitcoin-Native Company Built for Public Markets

Twenty One Capital distinguishes itself through a dual-focus approach: financial products combined with Bitcoin-centered media initiatives. Unlike traditional investment vehicles, the company aims to evolve the corporate Bitcoin model into a comprehensive platform for Bitcoin-native innovation. This includes new capital market instruments, lending structures, and educational content tailored for public shareholders who recognize Bitcoin’s long-term value proposition.

The company’s mission, as articulated by Jack Mallers, emphasizes Bitcoin’s role as reliable money: “We believe that Bitcoin is the answer, and Twenty One is how we bring that answer to public markets. Our mission is simple: to become the most successful company in Bitcoin, the most valuable financial opportunity of our time. We’re not here to beat the market, we’re here to build a new one.”

Strategic Backing From Tether and SoftBank

Twenty One Capital’s launch is supported by substantial financial commitments from industry heavyweights. The company will debut with $585 million in capital raised through PIPE financing and convertible notes—funds earmarked for aggressive Bitcoin acquisitions and operational expenses. Notably, Tether, serving as a co-founder of the venture, has pledged to acquire Bitcoin equivalent to the full PIPE raise prior to market launch.

Paolo Ardoino, CEO of Tether, reinforced the partnership’s Bitcoin-first commitment: “Bitcoin is one of the only truly decentralized, immutable, and censorship-resistant asset. With Jack at the helm, we are proud to support this effort to further Bitcoin’s adoption and reinforce its role as the ultimate store of value. Twenty One will take a Bitcoin-first approach that aligns with our vision—prioritizing accumulation over speculation.”

Bitcoin’s Institutional Evolution

Twenty One Capital’s emergence under Jack Mallers’ leadership signals a maturing institutional acceptance of Bitcoin as a core reserve asset. By combining public market accessibility with Bitcoin accumulation strategy, the platform addresses a growing demand among investors seeking direct Bitcoin exposure through regulated corporate structures. The company’s positioning, backed by Tether and SoftBank, demonstrates confidence in Bitcoin’s continued dominance as the foundation of an evolving financial system.