Twenty One Capital Eyes Public Listing, Targets Major Bitcoin Expansion

• Twenty One Capital plans to go public and use cash flow to buy Bitcoin sustainably.

• Backed by Tether, the firm is building financial products designed for a Bitcoin-native future.

KryptovaultDaily has learned that Twenty One Capital, a Bitcoin-focused firm backed by Tether, is preparing to go public. Under CEO Jack Mallers’s leadership, the company is awaiting final approval to list on a stock exchange under the ticker XSI.

Once live, the company intends to use its operational cash flow, not debt, to accumulate Bitcoin aggressively. This model positions Twenty One Capital as a long-term BTC holder, rather than a short-term speculator. Mallers emphasized that the goal is growth and value creation, especially in increasing Bitcoin per share.

A Bitcoin-Native Finance Strategy

Unlike traditional firms that borrow to build crypto positions, Twenty One Capital plans to generate its capital internally and use it to buy BTC. Mallers explained that this approach offers more resilience and better reflects Bitcoin’s self-sovereignty and sustainable value storage ethos.

The company also develops Bitcoin-native financial products, including lending solutions and capital market instruments. These tools are meant to function independently of legacy banking systems, setting a new standard for on-chain financial infrastructure.

Corporate Adoption with Long-Term Vision

With Tether’s backing, Twenty One Capital is already making bold moves. Last month, the company received a $2.7 billion BTC transfer from Tether and Bitfinex to strengthen its position. This followed a purchase of 4,812 BTC, making it the third-largest BTC holder globally. Subsequent purchases have helped maintain that ranking.

Mallers acknowledged the regulatory challenges of listing a Bitcoin-heavy company but expressed optimism about the future political climate. He sees this listing as more than a business move; it’s a step toward integrating Bitcoin into global finance.

As Twenty One Capital prepares to enter public markets, it signals a shift in how institutions can approach Bitcoin, not just as a reserve asset but as the core of a cash-generating, growth-focused enterprise.