Jack Mallers Takes the Helm at Twenty One Capital
Jack Mallers, known for his pivotal role as the founder and CEO of the cryptocurrency payment platform Strike, is stepping into a new leadership position as the CEO of Twenty One Capital, Inc., a recently established company focusing on Bitcoin. This strategic shift comes after Twenty One disclosed a collaborative venture with Cantor Equity Partners, a special purpose acquisition entity linked to Cantor Fitzgerald, known for its finance and investment services.
Strong Backing and Initial Operations
The fresh initiative is bolstered by significant backing from major players in the finance world, including Tether, a prominent stablecoin issuer, and Japan’s SoftBank Group. With over 42,000 Bitcoin (BTC) currently under its stewardship, the company is set to commence operations with the goal of enhancing Bitcoin ownership per share for its investors.
“Our goal is straightforward: to establish ourselves as the leading company in Bitcoin, unlocking the most valuable financial opportunity of our era. We are not aiming to outperform the market; our intent is to create a new one—a publicly traded stock crafted by Bitcoin enthusiasts for their peers,” Mallers articulated in his announcement.
Strike’s Growth and Future Predictions
Strike, which has witnessed remarkable growth in its offerings lately, specializes in Bitcoin transactions via the Lightning Network and has been a key facilitator for companies looking to incorporate Bitcoin into their financial frameworks. Jack Mallers also forecasted that the price of Bitcoin could soar to $1 million by 2024.
Support from Industry Leaders
In support of this new venture, Paolo Ardoino, CEO of Tether, expressed confidence in Mallers’ leadership, stating:
“We are thrilled to back this initiative which aims to enhance the adoption of Bitcoin and solidify its status as a primary asset for value storage. At Tether, we have consistently endeavored to support projects that bolster Bitcoin’s pre-eminence and its practical applications. Twenty One is committed to a Bitcoin-centric strategy, emphasizing accumulation rather than short-term speculation, and focusing on building long-lasting value for investors who truly understand Bitcoin’s significance.”
Innovative Financial Products
Twenty One is poised to introduce a range of financial products tailored to the Bitcoin ecosystem, which will encompass lending options and capital market tools, while also investing resources into Bitcoin-related content and media. The overarching aspiration of the company is to establish a minimalist, pure-play approach that stimulates maximum returns for investors aligned with Bitcoin principles.
