Twenty One Capital eyes Tuesday debut following Cantor Equity Partners merger
Analysis
Price Impact
MedThe nyse debut of twenty one capital, a bitcoin-focused company with 43,514 btc (approx. $4b), brings significant institutional validation and increased exposure to bitcoin. this could attract more capital to the asset class. however, the current 'harshest margin environment' and recent volatility for corporate bitcoin treasuries may temper immediate upside.
Trustworthiness
HighThe news comes from cointelegraph, a reputable source, detailing a confirmed corporate action (shareholder approval, nyse listing date and ticker).
Price Direction
BullishWhile the market currently poses challenges for corporate bitcoin holders, the entrance of a major new publicly traded entity with a substantial btc treasury on the nyse is fundamentally bullish for bitcoin. it signifies continued institutional adoption and mainstream acceptance, potentially increasing long-term demand and investor confidence.
Time Effect
LongThe immediate impact might be somewhat muted due to existing market conditions, but the long-term effect of another prominent, publicly traded company with significant bitcoin holdings is positive for institutional adoption, market legitimacy, and price support over time.
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Article Content:
Sam Bourgi 5 minutes ago Twenty One Capital eyes Tuesday debut following Cantor Equity Partners merger Bitcoin-focused Twenty One Capital is set to go public on the NYSE after winning shareholder approval for its merger with Cantor Equity Partners. Listen 0:00 News COINTELEGRAPH IN YOUR SOCIAL FEED Twenty One Capital, a Bitcoin-focused financial company led by Jack Mallers, expects its shares to begin trading on the New York Stock Exchange next week following the completion of its merger with Cantor Equity Partners, a special purpose acquisition company. The announcement on Thursday followed shareholder approval of the deal at Cantor Equity Partners’ meeting, clearing the way for Twenty One Capital to list next Tuesday under the ticker symbol “XXI.” Final voting results from the meeting are expected to be disclosed in a forthcoming Form 8-K filing with the US Securities and Exchange Commission. Twenty One Capital launched in April with the goal of building one of the largest corporate Bitcoin ( BTC ) treasuries. Early backers include Cantor Fitzgerald, Tether, Bitfinex and venture capital firm SoftBank. Upon listing, the company is expected to become the third-largest corporate holder of Bitcoin, trailing only Michael Saylor’s company, Strategy, and MARA Holdings, a major cryptocurrency miner. Source: Jack Mallers With 43,514 BTC on its books, Twenty One Capital’s Bitcoin stash is currently worth about $4 billion, according to industry data . Related: Bitcoin miners enter ‘harshest margin environment of all time’ Bitcoin treasury firms under pressure after volatile crypto crash Companies holding large Bitcoin reserves are feeling the strain after a massive liquidation wave on Oct. 10 triggered the largest single-day wipeout in crypto history, with o ver $19 billion in leveraged positions liquidated . The ripple effects have dragged down the value of Bitcoin. After reaching a peak above $126,000 in early October, Bitcoin dropped sharply in November, bottoming out below $80,000 as sell-offs intensified. The 30 largest public Bitcoin holders by treasury size. Source: BitcoinTreasuries.NET The slump has hit companies with large Bitcoin holdings particularly hard. Strategy saw its stock plunge, eroding much of the premium it once enjoyed over the value of its Bitcoin stash. In this environment, the viability of corporate Bitcoin treasury strategies is being questioned, particularly in a market where continued volatility and thin liquidity increase the risk that further downturns could wipe out unrealized gains. Magazine: Crypto carnage — Is Bitcoin’s 4-year cycle over? Trade Secrets # Bitcoin # Business # SPAC Add reaction