Twenty One Capital has raised $100M to boost its Bitcoin holdings, aiming to surpass MARA’s stash through convertible note funding.
Twenty One Financial is augmenting its Bitcoin assets with a $100 million financial infusion via the sale of convertible notes.
Equipped with further Capital, the Tether-backed firm seeks to narrow the disparity between MARA Holdings and MARA Holdings.
Twenty One Capital Attains Capital Acquisition To Procure Additional Bitcoin
Tether-backed Twenty One Capital exhibits no indications of diminishing its Bitcoin collection efforts.
The newly established company disclosed in an 8-K filing the issuance of additional convertible notes, securing $100 million from investors.
The Capital will acquire additional Bitcoin, augmenting the company’s assets as the BTC competition escalates.
Twenty One Capital presently possesses 31,500 BTC on its balance sheet, making it the third-largest public holder of Bitcoin, following Strategy and MARA Holdings.
Although Michael Saylor’s Strategy is well advanced, with nearly 600,000 BTC, surpassing Mara Holding is attainable for Twenty-One Capital.
The corporation previously acquired 4,812 BTC for $458.7 million, although recent capital raises indicate an impending purchasing surge.
Supported by affluent investors, Twenty One Capital has secured $3.6 billion from three backers:
Tether, SoftBank, and Bitfinex.
The issuance of convertible notes has yielded $385 million, but a private investment in public equity (PIPE) transaction has contributed an extra $200 million.
Mirroring Strategy’s Treasury Manual
An examination of Twenty One Capital’s activities indicates that the company is employing a strategy akin to that of Strategy.
It is implementing a “leveraged Bitcoin equity trade” strategy, leveraging various funding sources to augment its BTC holdings.
According to the 8-K filing, the new convertible notes will give holders an annual interest of 1% until the maturity date 2030.
In conjunction with leveraging, Strategy and Twenty One Capital designate Bitcoin as a fundamental treasury asset on their balance sheets.
Strategy has announced intentions to secure $2.1 billion to facilitate further Bitcoin acquisitions.
Public corporations collectively possess over 800,000 BTC, underscoring the increasing institutional demand for Bitcoin.
Emerging entities such as Strive Asset Management and GameStop are entering the sector, aiming to contest the supremacy of first adopters.
