Jack Mallers’ Twenty One Capital Plans Bold Bitcoin Expansion with Upcoming IPO

Twenty One Capital’s Bitcoin Bet: Jack Mallers Eyes Aggressive Expansion with IPO Plans

Twenty One Capital, the Bitcoin-focused investment company helmed by Strike founder Jack Mallers, is making headlines as it prepares for its highly anticipated IPO under the ticker “XSI.” This move is more than just a capital-raising event; it represents a bold strategy to aggressively expand its Bitcoin holdings, positioning the company as a top-tier player in the rapidly evolving crypto-finance landscape.

According to Bloomberg, Twenty One Capital currently holds 37,229.7 BTC as of June 26, 2025, securing its position as the third-largest corporate holder of Bitcoin globally, trailing only Michael Saylor’s Strategy (formerly MicroStrategy) and one other major institutional holder. The upcoming IPO is poised to accelerate the company’s already aggressive Bitcoin acquisition strategy, capturing the attention of both traditional investors and the crypto community.

Source: Twitter

A Bitcoin-Centric IPO Strategy

Jack Mallers, known for his unapologetic belief in Bitcoin as the future of money, confirmed that once Twenty One Capital goes public, its Bitcoin purchases will “accelerate dramatically.” The public listing will grant the firm greater access to traditional capital markets, enabling it to deploy new funds rapidly into Bitcoin while expanding its footprint in the crypto investment sector.

“Bitcoin is not just part of our strategy; it is the strategy,” Mallers told investors in a recent virtual town hall. “With this IPO, we are positioning Twenty One Capital to become the premier Bitcoin investment vehicle accessible to everyone.”

Backing from Tether: Strengthening the Mission

In a significant development, Tether has pledged financial support for Twenty One Capital’s mission, further cementing its ability to execute on its Bitcoin-centric vision. Tether’s involvement not only provides capital strength but also connects the firm to the wider stablecoin and crypto liquidity ecosystem, giving Twenty One Capital a unique position between the stablecoin and Bitcoin sectors of the crypto market.

This partnership amplifies Twenty One Capital’s credibility as it prepares for its IPO while reinforcing its commitment to Bitcoin as a treasury and investment asset.

The Corporate Bitcoin Rush

The first half of 2025 has witnessed an unprecedented corporate rush into Bitcoin. Publicly traded companies alone have purchased 245,510 BTC in 2025, more than doubling the Bitcoin absorbed by all Bitcoin ETFs combined. This figure represents a staggering 375% increase compared to the same period in 2024, reflecting a dramatic shift in corporate attitudes towards Bitcoin.

Source: CoinMarketCap

No longer viewed merely as a speculative asset, Bitcoin is increasingly being adopted as a reserve and inflation hedge amid global economic uncertainty. The cryptocurrency’s narrative as “digital gold” continues to gain momentum, aligning with global liquidity strategies and the growing embrace of digital finance frameworks by major institutions.

Bitcoin’s current price of $107,711, with a daily trading volume exceeding $46.55 billion, underscores its liquidity and attractiveness as an institutional asset class, encouraging more firms to integrate it into their balance sheets.

Following the Saylor Blueprint?

Many analysts have drawn direct comparisons between Twenty One Capital’s aggressive Bitcoin strategy and that of Michael Saylor’s Strategy (MSTR), which recently hit a 91% probability of S&P 500 inclusion following its Bitcoin-driven transformation.

Saylor’s playbook of using capital markets to fund massive Bitcoin purchases has turned Strategy into a Bitcoin proxy ETF, with 597,325 BTC currently held after its latest June 30 acquisition. This approach has generated $14 billion in gains, proving the viability of using Bitcoin as a corporate asset class on a large scale.

Market watchers anticipate that once Twenty One Capital’s IPO is complete, it could mirror Strategy’s path, rapidly scaling its Bitcoin holdings while simultaneously increasing its market cap, thereby becoming a de facto Bitcoin ETF for retail and institutional investors alike.

Metaplanet’s Entry: A Rising Competitor

The corporate Bitcoin rush extends beyond the United States. On June 30, Japan’s Metaplanet announced it had acquired an additional 1,005 BTC worth $108.1 million, bringing its total holdings to 13,350 BTC. The company has reported an impressive 348.8% Bitcoin yield year-to-date, emphasizing the growing trend of publicly listed companies doubling down on Bitcoin despite the market’s inherent volatility.

Metaplanet now ranks fifth in terms of corporate Bitcoin holdings, surpassing even Tesla, and joins Strategy and Twenty One Capital in the global race to dominate Bitcoin accumulation among publicly traded firms.

A Catalyst for Institutional Adoption

Twenty One Capital’s IPO is not just a financial event; it signals a larger structural change in the financial markets. If successful, it will serve as a key catalyst for broader institutional adoption of Bitcoin, proving that Bitcoin can be utilized as a viable treasury asset while delivering returns traditionally sought through other financial instruments.

Source: X

The IPO could encourage other companies to consider Bitcoin as part of their treasury strategies, shifting Bitcoin from an alternative asset to a primary reserve and strategic financial instrument for corporations worldwide.

Navigating Regulatory Challenges

Despite the bullish sentiment, the path forward is not without challenges. Twenty One Capital will need to navigate the complex regulatory landscape that continues to evolve around Bitcoin and digital assets. The SEC’s ongoing evaluations of Bitcoin ETF proposals and its stance on corporate Bitcoin strategies will be critical as the company proceeds with its IPO.

Jack Mallers has stated that Twenty One Capital is prepared to “fully comply with all applicable regulations while advocating for a clear and fair framework for Bitcoin in the corporate world.” This stance aims to reassure investors who may be wary of potential legal or regulatory headwinds impacting the company’s future.

The Road Ahead: Listing Under “XSI”

With the IPO set to proceed pending regulatory approvals, Twenty One Capital will soon begin trading under the ticker “XSI.” Investors and analysts alike will be closely monitoring the listing to gauge its market reception, potential trading volume, and its immediate impact on Bitcoin’s price.

Mallers has expressed confidence in the IPO’s success, stating, “This is not just an IPO; it is the next chapter in Bitcoin’s institutional adoption, and Twenty One Capital will lead that charge.”

Conclusion: A New Era for Bitcoin and Capital Markets

The Twenty One Capital IPO marks a significant turning point in the intersection of Bitcoin and traditional capital markets. If Jack Mallers and his team can execute their vision, Twenty One Capital could quickly become one of the most Bitcoin-heavy public companies globally, further legitimizing Bitcoin’s role in the global financial system.

As Bitcoin continues to establish itself as a viable treasury and investment asset, Twenty One Capital’s IPO may be remembered as a defining moment, demonstrating that Bitcoin is no longer a fringe asset but a cornerstone of modern corporate finance.

For crypto enthusiasts, institutional investors, and traditional market players, the upcoming Twenty One Capital IPO is not just an event to watch—it is a signal that the future of finance is here, and it is built on Bitcoin.

Writer @Ellena

Ellena is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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