Twenty One Capital Cracks Top 3 Bitcoin Whales – Massive Accumulation Ahead of IPO
Move over, MicroStrategy—there's a new corporate Bitcoin hog in town. Twenty One Capital just bulldozed its way into becoming the third-largest BTC holder globally, loading up on Satoshis like they're going out of style (which, let's be honest, they never do).
The Pre-IPO Bitcoin Binge
While traditional firms dilute shares ahead of listings, these guys are playing 4D chess—swapping fiat for a decentralized reserve asset. Their treasury now looks more like a digital Fort Knox, proving once again that Bitcoin is the ultimate 'hedge against Wall Street's circus.'
Whale Watching Season
With public markets frothing over the listing, crypto analysts are placing bets: Will they HODL through volatility or pull a classic 'pump-and-dump' like every other corporate crypto tourist? Either way—the Bitcoin network just got another diamond-handed node.
*Cynical finance jab*: Meanwhile, BlackRock's ETF team is frantically recalculating their 'Bitcoin is too volatile' PowerPoints.
Twenty One’s Newest Bitcoin Addition
Strike CEO and Lightning developer Jack Mallers has been a Bitcoin maximalist for years, but his newest venture is taking it to the next level.
Alongside a global trend of corporate crypto investment, Twenty One Capital is standing out for its ambitious goals. Today, the firm announced the receipt of 5,800 BTC from Tether, bringing its holdings to over 43,500 BTC.
Specifically, Twenty One Capital is going to go public soon, and Tether is one of its largest shareholders. Other prominent backers include Bitfinex, SoftBank, Cantor Fitzgerald, and more.
The company plans to trade under the ticker symbol “XXI” and introduce a performance metric called bitcoin Per Share (BPS) to track its Bitcoin-denominated performance. In other words, these bitcoins will help the company’s future growth potential.
“We believe Bitcoin deserves a public company worthy of its ethos. With the partners, capital, team, and structure we’ve assembled, we feel like we can do anything, and we’re just getting started. We’re not here to beat the existing system, we’re here to build a new one,” said Jack Mallers, Co-Founder and CEO of Twenty One.
Twenty One has been a major Bitcoin investor since coming onto the scene this year, receiving huge VC investments throughout Q2 2025.
Although its holdings pale in comparison to MicroStrategy, the firm nonetheless proved a major market mover several months ago.
The firm is already the third-largest corporate Bitcoin treasury, but it’s very close to moving up a rank. Twenty One acquired Bitcoin at an average price of $87,280.37 per unit, so these bets are certainly paying off.
Corporate treasury trackers haven’t incorporated this new Tether donation, but its 43,500 BTC stockpile is almost as large as MARA Holding’s.
This BPS metric might help Twenty One avoid some of the potential pitfalls of corporate Bitcoin investment.
Hopefully, it’ll provide another way for investors to gain indirect exposure to BTC, as firms like MicroStrategy can have an erratic price performance compared to Bitcoin itself.
