Bitcoin Firm Takes a Dive! 📉

Well, now, ain’t this a pickle? Seems this here Twenty One Capital, a newfangled concern dealin’ in them digital bits and pieces they call Bitcoin, took a bit of a tumble right outta the gate. A 20% drop on their very first day of tradin’! Land sakes alive! Merged with Cantor Equity Partners, they did, which seems fancy, but didn’t stop the market from givin’ ‘em a proper introduction to reality. 🤷

Opened up Tuesday at a mere $10.74, considerin’ Cantor was closin’ Monday at $14.27. A slippery slope, if you ask me. By Wednesday, they’d sunk to $11.42 – almost a fifth gone! Makes a body wonder if folks are startin’ to suspect these here “crypto” things ain’t quite the gold rush they were promised. 🤔

But hold your horses! After hours, a little tickle upwards – 2.2% to $11.67. Gives ‘em a heft of around $4 billion, they say. A pile of nothin’ if you ask me, but who am I to judge? 💰

This Twenty One, you see, was the talk of the town, backed by bigwigs like Tether and some fellas from Bitfinex Japan, with a fella named Jack Mallers at the helm. He’s the head honcho of Strike, another Bitcoin operation. Sounds important, don’t it?

They boast holdin’ over 43,500 Bitcoins, worth more than $4 billion! That’s a heap of digital dust, third largest among public companies, mind you. Behind those fellas at MARA Holdings who’re diggin’ the things up.

Twenty One Has No Plan…But It’s “Not a Treasury”?

Now, here’s the rub. They ain’t exactly tellin’ folks what they’re plannin’ to do with all this Bitcoin. Mallers insists they’re “not a treasury company,” which strikes me as like sayin’ a fish ain’t fond of water. If you’re just holdin’ digital gold, what are ya, a digital hoarder? 😂

Said they don’t want folks thinkin’ of ‘em as just a pile of Bitcoin lyin’ around, but rather a “business.” A business, mind you, with a whole heap of Bitcoin! It’s like sayin’ you’re runnin’ a bakery, but all you’ve got is the flour.

“Buildin’ an operatin’ company,” he claims, with dreams of brokerage, exchange, and lendin’. Sounds ambitious, don’t it? Though the particulars remain as murky as the Mississippi after a rainstorm. 🌫️

Pressed for specifics, he just waves his hand and says “soon.” “Sooner rather than later,” he says. Well, that’s mighty helpful, ain’t it? 🙄

Seems like every Tom, Dick, and Harry is startin’ a “crypto treasury” these days, copying a scheme where they buy Bitcoin and ask folks for more money to buy even more Bitcoin. It’s a right proper circle! And when Bitcoin’s doin’ well, folks are lining up to throw their money at it. But when that Bitcoin decides to take a nap, well… look at Twenty One Capital.

Mallers seems to think his reputation and his love of Bitcoin will see ’em through. Claims it’s all about “the forest through the trees”. Sounds philosophical for a fella peddlin’ digital somethin’-or-others. He firmly believes in Bitcoin and hopes shareholders will as well. I reckon we’ll just have to wait and see if his faith is well-placed. 🤠

2025-12-10 05:44

Twenty One Has No Plan…But It’s “Not a Treasury”?

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