In a major statement of intent, Jack Mallers’ Twenty One Capital has acquired 4,812 Bitcoins worth approximately $458.7 million.
Twenty One Capital Launches with $458M Bitcoin Purchase
The deal marks the newly formed bitcoin investment firm’s first major acquisition since it debuted in late April, establishing itself as a serious contender in the corporate Bitcoin space.
The purchase was made possible through a transaction involving stablecoin issuer Tether, which transferred the BTC to Twenty One Capital following the company’s business combination with Cantor Equity Partners. This move not only signifies the firm’s aggressive entry into Bitcoin accumulation but also reflects a broader trend of corporate institutions turning to digital assets as part of their treasury strategy.
SPAC Merger and Tether Partnership
Twenty One Capital was created through a special purpose acquisition company (SPAC) merger with Cantor Equity Partners and initially launched with $3.6 billion in Bitcoin on its balance sheet. The latest acquisition has pushed its total Bitcoin holdings to $4.05 billion, placing it as the third-largest corporate holder of BTC globally, behind Michael Saylor’s Strategy (formerly MicroStrategy) and Marathon Digital.
The transaction was executed under a private investment in public equity (PIPE) agreement, with funds raised through a convertible notes offering by the public entity. Tether’s involvement was central to the deal structure, with the BTC initially held in a Tether-controlled wallet before being sold to Twenty One Capital for $458.7 million upon the business combination’s closing.
Adopting the ‘Saylorization’ Model
The firm, led by Strike founder Jack Mallers, is heavily backed by Tether and Bitfinex, while SoftBank holds a minority interest. Twenty One Capital’s Bitcoin accumulation strategy is explicitly modeled after Michael Saylor’s well-documented approach through Strategy. The move is part of a broader corporate movement to hedge against fiat currency risks and centralization by allocating treasury reserves to Bitcoin.
Bitcoin advocate Max Keiser described the development as part of a growing global phenomenon he termed “Saylorization.”
In comments to BeInCrypto, Keiser remarked,
“Twenty One Capital isn’t just stacking sats — it’s leading a generational shift in corporate capital allocation…Jack Mallers is taking the Saylor playbook and turning it into an arms race…For corporations to survive, they must mimic the Strategy’s process, they must ‘Saylorize’ or die.”
Bitcoin Adoption Accelerates
The momentum around corporate Bitcoin acquisitions continues to build. Japan’s Metaplanet recently raised $15 million through bonds to expand its BTC holdings, overtaking El Salvador’s holdings with a $126.7 million purchase the day before its bond issuance. Meanwhile, El Salvador persists with its Bitcoin bond program, further validating the trend.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
