Strike founder Jack Mallers will lead Tether-backed bitcoin buying firm Twenty One

According to Wednesday's announcement, Strike founder Jack Mallers will join the newly formed cryptocurrency joint venture Twenty One Capital as its CEO. The company's sole purpose is to "maximize its holdings of bitcoin." It currently holds 42,000 bitcoins on its balance sheet.
It is reported that the company has received the support of stablecoin issuer Tether, Softbank Group (Softbank) and Wall Street investment bank Cantor Fitzgerald. The company's articles of association clearly stipulate that it only focuses on the accumulation of bitcoin assets. The huge initial position is equivalent to 0.2% of the current bitcoin circulation, ranking among the top 5 bitcoin positions of global listed companies. Industry experts believe that after MicroStrategy, another "All in Bitcoin" listed company has seen the joint endorsement of three major institutions, indicating that the recognition of bitcoin assets by traditional capital has increased, which may trigger a new round of bitcoin position competition among listed companies.