Bitcoin's Big Move: A New Player Enters Wall Street

Twenty One Capital is about to start trading on the New York Stock Exchange (NYSE) on December 9. This is a significant event because it marks the first time a company that focuses solely on Bitcoin will be listed there.

A Major Bitcoin Holder

The company owns approximately 43,514 BTC, worth around $4 billion. This makes it one of the top three publicly traded companies with the most Bitcoin. The largest holder is Strategy, with about 650,000 BTC.

Leadership and Backing

Twenty One Capital is led by Jack Mallers, who is also the CEO of Strike. Strike is known for using the Bitcoin Lightning Network for payments. Mallers is recognized for his role in helping El Salvador adopt Bitcoin as legal tender.

The company has some high-profile backers. Tether and Bitfinex own most of it, and SoftBank Group and Cantor Fitzgerald have also invested. This indicates that major institutions are starting to take Bitcoin seriously as a store of value.

Transparency and Innovation

One unique aspect of Twenty One Capital is its Bitcoin Per Share metric. This allows investors to see exactly how much Bitcoin the company holds in real time. This transparency is crucial, as some other companies have faced criticism for not being clear about their holdings.

Market Challenges and Opportunities

The company is entering a market that is growing but also facing challenges. While Strategy has a significant amount of Bitcoin, it also has other businesses. Twenty One Capital plans to focus solely on Bitcoin and related services.

The timing of the NYSE listing is notable. Bitcoin has been volatile lately, struggling to stay above $95,000. Some analysts believe the 2025 bull run might be over, but others think 2026 could be a strong year.

Testing Wall Street's Interest

This listing will test whether Wall Street is still interested in Bitcoin exposure through equity markets. It will also show if the Bitcoin treasury model can deliver value to shareholders. The company plans to focus on accumulating Bitcoin efficiently and developing services for the Bitcoin ecosystem.