Brandon Lutnick, son of Trump’s US government secretary, Howard Lutnick, is involved in creating Twenty One Capital, a new company focused exclusively on accumulating Bitcoin (). With initial contributions of $ 3 billion in cryptors from Tether, Softbank and Bitfinex, the company is born to replicate the Microstrategy model, a pioneer in the strategy of turning its corporate balance into a large Bitcoin reserve.
The operation was made official on Wednesday (23), after an interview by Jack Mallers, CEO of the new company, Bloomberg TV. The structure will be formed through a merger with Spac Singer Equity Partners, sponsored by an affiliate of the brokerage singer Fitzgerald, where Brandon is CEO and chairman of the board.
With over 42,000 Bitcoins under release management – the equivalent of about $ 3.9 billion – Twenty One Capital is already the third largest corporate Bitcoin treasury in the world. The majority participation will be with Tether and Bitfinex, while Softbank will act as a minority investor.
Brandon Lutnick, who took control of Spac after his father’s departure for government office, was also responsible for connecting Tether to the Rumble video platform, enabling an investment of $ 775 million. Now leads one of the largest institutional bets ever seen in the cryptocurrency market.
Jack Mallers, founder and CEO of Strike, will also be ahead of the new company. He highlighted Bloomberg TV that the goal is clear: “Our only rule for shareholders is: our bitcoin per action will grow.”
In addition to the values initially brought, the company has already raised another $ 585 million for additional Bitcoin purchase, through convertible notes and private stock sales.
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Twenty One will be listed at Nasdaq under the “XXI” ticker, after the merger with the singer Equity Partners, whose shares rose 21% on Wednesday, quoted at $ 13.
