Twenty One Capital CEO Outlines Shift to Bitcoin Operating Company

Twenty One Capital CEO Raphael Zagury said the company is shifting from a pure Bitcoin treasury company to a Bitcoin operating company. According to Foresight News, he outlined a five-step plan that includes building out governance and back-office infrastructure, adding profitable Bitcoin industry operations, pursuing acquisitions, using capital markets tools to increase Bitcoin holdings when appropriate, and developing Bitcoin-backed lending. When asked whether the company would follow Strategy and Strive in issuing perpetual preferred shares, Zagury said it would do so if it made sense, but stressed that this is not the company’s core strategy. He said Twenty One Capital prefers to expand its Bitcoin reserves over the long term through cash generated by operating businesses. Zagury added that the company currently holds more than 43,000 bitcoins, with about two-thirds unlocked, and said it would not rule out issuing debt or using other tools to buy Bitcoin if market dislocations emerge.