🇺🇸 Twenty One Raises $685M for Bitcoin Treasury
Twenty One Capital, a leading 'Bitcoin treasury' firm headed by Jack Mallers, successfully raised $100 million through convertible notes, boosting its total financing to $685 million. Backed by Tether and SoftBank, the company utilizes these funds to expand its Bitcoin treasury, adding to its existing holdings. Formed via a SPAC merger with Cantor Equity Partners, Twenty One employs innovative financial strategies to maximize cryptocurrency exposure, offering investors diverse avenues to participate in the booming Bitcoin market. With the recent note sale, Twenty One strengthens its position as a major player among publicly traded Bitcoin treasury entities.
FAQ
❓ Who supports Twenty One Capital?
Tether, SoftBank, and Bitfinex are primary supporters of Twenty One Capital.
❓ What is the purpose of Twenty One's recent fundraising?
The funds are used to purchase more Bitcoin, thereby expanding their cryptocurrency holdings.
❓ What strategy does Twenty One use to evaluate its Bitcoin investments?
They employ a 'bitcoin per share' metric to assess their exposure to Bitcoin.