Twenty One (XXI) shocked the market with a huge 43,514 Bitcoin treasury on its first day of trading on the New York Stock Exchange today, marking a historic occasion for Wall Street. Twenty One entered the market with more Bitcoin than several established corporate leaders, making it the third-largest public Bitcoin holder in the world.
The company, co-founded by Jack Mallers and majority-owned by Tether and Bitfinex, with significant backing from SoftBank Group, has finalised its business combination with Cantor Equity Partners, setting the way for a record-breaking launch.
The action follows an important $3.9 billion trust release from Tether, which moved Bitcoin into Twenty One’s direct custody and created a lot of excitement in the cryptocurrency business.
“Bitcoin is real money.” People have faith in it. We created Twenty One on top of it because of this, CEO Jack Mallers stated. “Our step towards giving Bitcoin the stage it deserves in global markets is listing on the NYSE.”
Twenty One’s commitment to complete transparency is what sets it apart. Investors will get an in-depth understanding of the company’s Bitcoin holdings thanks to the real-time publication of on-chain proof of reserves.
It is expected that this uncommon degree of transparency will raise the standard for all Bitcoin treasury firms.
Twenty One plans to provide Bitcoin-focused financial services, lending models, capital market tools, and instructional media in addition to its big BTC stack.
According to analysts, the business may develop into a high-beta Bitcoin proxy and draw in investors looking for direct, robust BTC exposure through the stock market.
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