Первые торги Twenty One Capital обернулись падением акций на 20%, несмотря на поддержку Strive с $500 млн для покупки биткоина English translation: Headline: First trades of Twenty One Capital resulted in a 20% drop in shares, despite Strives support with $500 million for bitcoin purchases

Strive has announced the acquisition of $500 million to purchase its first cryptocurrency.

Shares of the newly-established Twenty One Capital, created by Cantor Fitzgerald, plummeted by approximately 20% following their initial trading session.

Trading for XXI shares commenced on the NYSE on December 9, opening at $10.74. This figure is below the closing price of the SPAC Cantor Equity Partners at $14.27, the company with which Twenty One Capital merged for its market debut.

By the end of trading, the shares reached $11.42, reflecting a drop of 19.9% from the previous session.

The company’s market capitalization is estimated at $4 billion.

The launch of Twenty One Capital was announced in April, led by Jack Mallers, the founder and CEO of Strike.

The organization holds assets worth 42,000 BTC (approximately $3.9 billion), with backing from Tether, Bitfinex, and the Japanese Softbank Group.

The firm ranks third among public holders of the premier cryptocurrency.

Despite going public, Twenty One Capital has yet to provide a detailed business plan, and the operational model remains vaguely defined in their documentation.

In an interview with CNBC, Mallers stated that the firm does not intend to function as a crypto treasury, referencing Michael Saylor’s Strategy.

«We don’t want the market to see and value us merely as a company holding Bitcoin on its balance sheet. We do have significant reserves of cryptocurrency, but our goal is to build a comprehensive business around it,» he remarked.

The CEO of Twenty One Capital further emphasized that the firm sees «numerous opportunities in brokerage services, exchange trading, lending, and loans.» He did not provide specifics about the launch of particular products but promised to reveal plans soon.

«We see Bitcoin as the main opportunity that everyone overlooks. The mission of our stock is to focus solely on BTC and create value for shareholders primarily through its potential,» Mallers concluded.

On December 9, Strive Asset Management, associated with Vivek Ramaswamy, announced a $500 million stock offering aimed at raising capital for further Bitcoin accumulation.

In addition to cryptocurrency purchases, the funds will be allocated for general corporate purposes and investments in income-generating assets to bolster the core business. The company did not disclose details of these investments.

Currently, Strive ranks 14th among corporate holders of digital gold, managing 7,525 BTC valued at $699 million.

Notably, in December, Glassnode analysts calculated that since 2023, both public and private companies have increased their reserves in the leading cryptocurrency by 448%. The amount of Bitcoin on their balance sheets grew from 197,000 BTC to 1.08 million BTC.