The company’s mission is to maximize Bitcoin ownership per share, offering investors a direct and transparent avenue for Bitcoin exposure. To reflect its Bitcoin-centric approach, Twenty One Capital introduces two novel performance metrics:
Bitcoin Per Share (BPS): Indicates the amount of Bitcoin each fully-diluted share represents, emphasizing shareholder ownership in Bitcoin rather than traditional fiat earnings.
Bitcoin Return Rate (BRR): Measures the growth rate of BPS over time, denominating the company’s performance in Bitcoin.
“Markets need reliable money to measure value and allocate capital efficiently,” said Jack Mallers. “We believe that Bitcoin is the answer, and Twenty One is how we bring that answer to public markets. Our mission is simple: to become the most successful company in Bitcoin, the most valuable financial opportunity of our time. We’re not here to beat the market; we’re here to build a new one. A public stock, built by Bitcoiners, for Bitcoiners.”
The launch includes $585 million in capital raised through PIPE financing and convertible notes, with the proceeds earmarked for additional Bitcoin acquisitions and general corporate purposes. Tether, as a co-founder of the venture, has committed to acquiring Bitcoin equivalent to the full PIPE raise ahead of the transaction’s closing.
Paolo Ardoino, CEO of Tether, expressed strong support for the initiative: “Bitcoin is one of the only truly decentralized, immutable, and censorship-resistant assets, and its role as the foundation of a new financial system is inevitable. With Jack at the helm, we are proud to support this effort to further Bitcoin’s adoption and reinforce its role as the ultimate store of value.”
Twenty One Capital aims to develop a corporate architecture capable of supporting financial products built with and on Bitcoin, including native lending models and capital market instruments. This approach seeks to replace legacy financial tools with Bitcoin-aligned alternatives, offering investors a public company that combines Bitcoin exposure with an operating business focused on Bitcoin-native products and services.
With its substantial Bitcoin holdings and a clear vision for Bitcoin-centric financial solutions, Twenty One Capital is poised to become a leading force in the cryptocurrency industry.
