Jack Mallers, the founder of the crypto payments platform Strike, has been appointed as the CEO of a new Bitcoin-focused company named Twenty One. This initiative is positioned to make a significant impact in the cryptocurrency landscape.
Supported by prominent investors Tether and SoftBank Group, Twenty One aims to launch with a substantial Bitcoin reserve, estimated at over 42,000 BTC, which would establish it as the holder of the third-largest Bitcoin treasury, trailing only Strategy and Mara Holdings.
Leveraging Bitcoin Knowledge
In a formal announcement, it was stated that Mallers intends to leverage his extensive experience in global digital payments while also retaining his responsibilities at Strike. His prior insights have led him to predict a dramatic rise in Bitcoin’s value, suggesting it could climb 870% to reach $1 million should the U.S. government acquire four million BTC. He emphasizes Bitcoin’s inherent scarcity and inflation-resistant qualities as vital components for its anticipated growth.
Having established Strike in 2020, Mallers played a pivotal role in advancing the use of Bitcoin as a mainstream payment solution through the Bitcoin Lightning Network. His influence was particularly evident in 2021 when he famously engaged with El Salvador President Nayib Bukele, who later made history by declaring Bitcoin an official currency in the country.
Paolo Ardoino, CEO of Tether, expressed confidence in Mallers’ leadership, stating, “With Jack at the helm, we are proud to support this effort to further Bitcoin’s adoption and reinforce its role as the ultimate store of value.” He further noted that Twenty One would prioritize a Bitcoin-first strategy, emphasizing accumulation rather than speculation to foster long-term value.
“We want our shareholders to get wealthier, to get richer in Bitcoin terms,” says Jack Mallers, CEO of Twenty One Capital, the newly formed crypto firm backed by Cantor, Tether, and SoftBank. https://t.co/wYXkjTlitC pic.twitter.com/glLTvpU9JL
— Bloomberg TV (@BloombergTV) April 23, 2025
Significant Investment from Tether
Reports from Finance Newso indicate that Twenty One Capital, envisioned as a multi-billion dollar Bitcoin investment vehicle, will receive a notable $1.5 billion in Bitcoin from Tether. Additionally, SoftBank is expected to contribute $900 million, while Bitfinex plans to invest $600 million into the venture, according to an FT report.
The announcement described Twenty One as a Bitcoin-native company, designed to strategically allocate capital with the objective of increasing Bitcoin per share. The firm is also set to explore financial products built directly with and on Bitcoin, which may include innovative lending models and capital market instruments.
“We believe that Bitcoin is the answer, and Twenty One is how we bring that answer to public markets,” Mallers said. “We’re not here to beat the market, we’re here to build a new one. A public stock, built by Bitcoiners, for Bitcoiners.”
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