Twenty One Capital, led by Strike founder Jack Mallers and backed by Tether, SoftBank, and Cantor Fitzgerald, aims to surpass Michael Saylor’s Strategy as the premier Bitcoin treasury firm. The firm, holding 42,000 BTC, plans to pursue a public listing through a blank-check merger with Cantor Equity Partners and raise $585 million in financing. Mallers emphasizes that the goal is to establish a 'new' market focused entirely on Bitcoin for investors. Unlike Strategy, which may face limitations in increasing shareholder value through future Bitcoin purchases, Twenty One Capital proposes a more flexible and direct engagement with Bitcoin. The plan includes not just accumulation of BTC but also the introduction of various Bitcoin-focused products, services, and educational efforts to enhance Bitcoin literacy and adoption among both institutional and retail investors. Following the announcement, shares of Cantor Equity Partners surged significantly, reflecting strong market interest in the venture.

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