Twenty One Capital has been listed on the NYSE under the ticker XXI, bringing with it more than 43,500 Bitcoin worth approximately $3.9 billion, making it one of the largest Bitcoin-holding enterprises. The listing was described by co-founder Jack Mallers as a step toward bringing Bitcoin into the financial mainstream. The company is backed by Tether, Bitfinex, SoftBank, and Cantor Equity Partners, providing a rare institutional foundation for a purely Bitcoin-focused project.
However, XXI shares dropped more than 24% on the first day, reflecting cautious sentiment as the cryptocurrency market weakens and Bitcoin has fallen about 30% from its October peak. Amid pressure on DATs, investors expect XXI to demonstrate a clearer business model. The company plans to develop Bitcoin-backed lending products and educational initiatives, but these projects are still in the early stages and will require time to prove their effectiveness.
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