Twenty One Capital, Bitcoin (BTC) Treasury company, supported by Tether and Softbank, plans to add 5,800 BTC to its reserves in front of a public listing through his merger with Cantor Equity Partners, the company said Tuesday.
The contribution, led by Tether as part of an existing arrangement, would bring twenty one’s total possessions to more than $ 43,500, over $ 5 billion at current prices, and place it as the third largest company’s Bitcoin Treasury behind Microstratey and Tesla.
Twenty One CEO Jack Malers, who also leads Bitcoin-focused payments app Strike, tied the accumulation strategy to Bitcoin’s regular supply and calls it “the barely things” during a Tuesday interview with Bloomberg TV.
He said that price increases could accelerate as institutional and sovereign buyers compete for limited supply.
“If you want more Bitcoin, don’t go to the Bitcoin factory. You have to go up in price,” he said. “Is there enough Bitcoin for me at 120,000? No, okay. 130k, 140k, 150k?”
Mallers suggested that the growing demand from ETFs and possibly nation states could force rapid price discovery.
“Bitcoin is inelastic to demand,” he said, adding that market participants will “find the delivery they are looking for, they just have to get it at a higher price.”
The company will also introduce a “Bitcoin per share” metrics to allow investors to track holdings directly rather than through earnings.
Tether and BitFinex will remain majority owners on twenty -one after the list, where Softbank has a minority share. Shares are expected to trade under the Ticker “XXI” at the end of the agreement, pending regulatory and shareholder approvals.
The company says that all possessions will be revised in real time via on-chain proofs for reserves.
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