XXI · Twenty One Capital
🇺🇸Tether-controlled, Cantor-backed bitcoin-native treasury led by Jack Mallers (founder of Strike). Built from day one to accumulate BTC. Tether bought out SoftBank's founding stake in May 2026 to take majority control.
Market cap from bitcointreasuries.net (basic share count).
CEBE BPS and Amplification are pending for XXI· its senior-claims figures (debt + preferred) aren't reliably sourced yet, so we publish gross BPS and mNAV rather than a guess. CEBE BPS is the bitcoin per share after senior claims; the gap from gross BPS is Amplification, the senior leverage Michael Saylor frames as the risk metric.
Twenty One Capital is a bitcoin-native treasury built from inception to maximize bitcoin-per-share, led by Strike founder Jack Mallers. It listed via the Cantor Equity Partners SPAC and is now majority-controlled by Tether, which bought out SoftBank's founding stake for $711M in May 2026. Funding is primarily convertible notes plus equity, with no preferred stack · so its senior claims are lighter than Strategy's.
Recent SEC Filings
Source · EDGAR ↗Most recent 8-K, 10-Q, 10-K, and S-3 filings. Updated daily from EDGAR.
Frequently asked about XXI
What is XXI (Twenty One Capital)?
Tether-controlled, Cantor-backed bitcoin-native treasury led by Jack Mallers (founder of Strike). Built from day one to accumulate BTC. Tether bought out SoftBank's founding stake in May 2026 to take majority control. XXI is one of the four major public Bitcoin treasury companies tracked on Galaxy Mind alongside MSTR (Strategy), XXI (Twenty One Capital), MPJPY (Metaplanet), and ASST (Strive). See the live mNAV scoreboard at galaxymind.space/treasuries.
What is XXI's current mNAV?
XXI's live mNAV is published at galaxymind.space/treasuries/XXI and updates every 5 minutes. mNAV is the company's market cap divided by the value of its bitcoin holdings · below 1.0x means the stock trades for less than the bitcoin it holds.
What is XXI's net (CEBE) mNAV?
XXI's CEBE (net-of-senior-claims) mNAV is pending · its debt and preferred figures aren't reliably sourced yet, so Galaxy Mind publishes the gross mNAV rather than a guess. Track it at galaxymind.space/treasuries/XXI.
Is XXI a good Bitcoin investment?
Whether XXI is a good investment depends on its current mNAV (premium or discount to its bitcoin holdings), your time horizon, and your account type (Taxable / Traditional / Roth). The Galaxy Mind allocation engine at /fit factors mNAV explicitly · when treasury mNAV is rich (≥1.6x) it auto-trims the sleeve in favor of pure-spot Bitcoin (BTC or IBIT/MSBT). Not financial advice.
How many Bitcoin does XXI hold?
XXI's live bitcoin holdings are published at galaxymind.space/treasuries/XXI, updated every 5 minutes from bitcointreasuries.net.