Twenty One Capital rises to 3rd largest Bitcoin holder following 5,800 BTC boost from Tether

Bitcoin concern steadfast Twenty One Capital is acceptable to person 5,800 BTC from stablecoin issuer Tether arsenic it prepares for its upcoming nationalist listing, according to a July 29 statement.

This inflow would bring the firm’s full Bitcoin holdings to implicit 43,500 BTC, making it the third-largest firm holder globally. It would fertile conscionable down Marathon Digital and Strategy (formerly MicroStrategy).

As of property time, implicit 4,700 BTC had already been transferred to Twenty One Capital’s wallet, pushing its stash to 43,343 BTC, which is valued astatine $5.1 billion, according to on-chain data.

Bitcoin per share

Twenty One Capital plans to people a metric called Bitcoin Per Share (BPS) to connection investors much transparency. This fig volition correspond the magnitude of Bitcoin backing each afloat diluted institution share.

Unlike accepted firms’ earnings-per-share models, BPS volition let shareholders to way show straight successful Bitcoin terms.

The steadfast stated that each stock of the caller institution is expected to correspond astir 12,559 satoshis.

Meanwhile, the steadfast besides emphasized that it carries nary bequest liabilities, aiming to present axenic vulnerability to Bitcoin without the risks of unrelated concern operations.

Jack Mallers, the CEO and co-founder of Twenty One Capital, said:

“Twenty One is simply a caller benignant of nationalist company: built connected Bitcoin, backed with proof, and driven by a imaginativeness to reshape the planetary fiscal system. We’re not present to bushed the existing system, we’re present to physique a caller one.”

Bitcoin treasury

Twenty One Capital’s determination follows a increasing inclination of Bitcoin treasury strategies, archetypal popularized by Strategy (formerly MicroStrategy).

According to Bitcoin Treasuries data, implicit 100 publically traded companies present clasp astir 1 cardinal Bitcoin connected their equilibrium sheets.

Meanwhile, critics person raised concerns astir the imaginable risks of these firms’ assertive accumulation.

However, marketplace analysts similar Joe Consorti, caput of maturation astatine Theya Bitcoin, person resisted these concerns.

According to him:

“Bitcoin treasury companies aren’t a systemic risk. They’re deploying conservative, intelligent leverage, and are years distant from existent scale. The existent hazard is being underexposed portion institutions region proviso astatine an accelerating pace.”

The station Twenty One Capital rises to 3rd largest Bitcoin holder pursuing 5,800 BTC boost from Tether appeared archetypal connected CryptoSlate.