Twenty One Capital Completes $100 Million Refinancing, Plans to Go Public as Bitcoin Reserve Company

Bitcoin vault company Twenty One Capital recently raised another $100 million through convertible senior secured notes, bringing its total financing to $685 million. The company is preparing to merge with Nasdaq-listed Cantor Equity Partners and plans to go public as a Bitcoin Reserve Company. The SPAC is led by Brandon Lutnick, the son of former Cantor chairman, and its shareholders include Tether and iFinex. Strike CEO Jack Mallers will serve as CEO.

Earlier this month, Twenty One Capital disclosed that it spent $458 million to purchase Bitcoin. The company plans to hold more than 42,000 Bitcoins when it goes public, becoming the world's third largest corporate Bitcoin holder.

Twenty One Capital's strategy is to accumulate Bitcoin reserves through convertible bonds and equity financing. The company will use indicators such as "Bitcoin per share" (BPS) and "Bitcoin return rate" (BRR) to reflect its Bitcoin-based capital structure and growth strategy.

The company is led by Jack Mallers, and its major shareholders include Tether and Bitfinex's parent company iFinex, and SoftBank holds a minority stake. Twenty One Capital aims to become the preferred platform for investors to gain exposure to Bitcoin.

As the price of Bitcoin breaks through $100,000, Twenty One Capital's listing plan has attracted market attention. The company plans to go public through a SPAC merger, which is expected to further promote the mainstreaming of Bitcoin in the capital market.