The sale of twenty -one capital convertible notes is expanding its bitcoin holdings through $ 100 million capital injection from the sale of notes. Armed with additional cash, the company aims to close the gap between itself and the Mara Holdings.
Twenty -one capital secure capital gathering to buy additional bitcoins
The tether-supported twenty-one capital shows no signal to slow down its bitcoin accumulation. In 8-K filingThe newly formed firm announced the sale of additional convertible notes, raising $ 100 million from investors.
Funds will buy more bitcoins, BTC Arms Race intensifies by expanding the company’s holding. The Twenty One Capital currently holds 31,500 BTC on its balance sheet, ranking as the third largest public holder of bitcoin behind strategy and march holdings.
While Michael Sirer’s strategy is miles ahead with around 600,000 BTC, flicking hit the twenty -one access to a capital. First, Company bought 4,812 BTC For $ 458.7 million, but additional capital indicates for an upcoming purchase competition.
Supported by cash-rich financiers, twenty-one capital has raised $ 3.6 billion from a trio of supporters: Tather, SoftBank and Bitfinx. The sales of convertible notes have produced a total of $ 385 million, while a private investment in the public equity (pipe) deal has been brought in an additional $ 200 million.
Mirroring Strategy Treasury Playbook
A close eye on the operation of twenty -one capital suggests that the company is following a strategy similar to strategy. It is employing a “leveraged bitcoin equity trade” approach, using a series of financing mechanisms to develop its BTC holdings.
According to the 8-K filing, new convertible notes holders will pay 1% interest annually by the due date of 2030. With the use of leverage, both strategies and twenty -one capital are positioning both bitcoins as a core treasury asset on their balance sheet. For example, the strategy has revealed plans Increase $ 2.1 billion To fund additional bitcoin shopping.
Public companies collectively hold more than 800,000 BTCs, which highlight the growing institutional appetite for bitcoins. New players such as Strev Asset Management and Gamestops are entering Space is trying to challenge the dominance of the early adoptives.
Aliu pokima
Aliyu Pokima is a journalist of an experienced cryptocurrency and emerging technologies with a neck to cover the needle-moving stories in space. Aliyu distributes news stories, regulatory updates and practical analysis with depth and accuracy. When he is not working on the chart or on the following lead, Aliu enjoys playing bass guitar, lifting weight and running a marathon.
Disclaimer: The material presented may include the author’s personal opinion and is subject to the market status. Do your market research before investing in cryptocurrency. The author or publication does not have any responsibility for your personal financial loss.
share: