Twenty One Capital is about to go public through SPAC, and the CEO predicts that Bitcoin will pump 200 times.

After the Fed's first interest rate cut of the year, Bitcoin's price soared to over $117,000, and market sentiment is high. Jack Mallers, CEO of Twenty One Capital, boldly predicted in an interview that if Bitcoin could capture just a small share of the traditional store of value markets like stocks, real estate, precious metals, and art, its value is expected to rise by 100 to 200 times in the future. This Bitcoin-focused investment firm, founded by Jack Mallers and backed by heavyweight companies such as Tether and SoftBank, is preparing to go public on NASDAQ through a SPAC merger, with the stock code XXI, marking another important step forward in the institutionalization process of Bitcoin.

Twenty One Capital CEO: Betting on the Future of Bitcoin

In an interview with NYSE TV, Jack Mallers, CEO of Twenty One Capital, elaborated on his long-term bullish outlook for Bitcoin. He believes that Bitcoin is targeting a massive store of value market, which is currently dominated by stocks, real estate, precious metals, and high-end art.

Mallers pointed out that the current market capitalization of Bitcoin is approximately $2.5 trillion. He added that if Bitcoin could capture even a small portion of the existing store of value market wealth, its market cap could expand by 100 to 200 times. He defined Bitcoin as a logical alternative to combat currency devaluation, thus defending its status as a non-sovereign store of value asset.

Going Public Through SPAC: The Strategic Layout of Twenty One Capital

Twenty One Capital was established in April 2025, and its business structure is a financial fund that invests solely in Bitcoin, supported by companies like Tether and SoftBank.

As the BTC price continues to rise, Twenty One Capital is preparing to merge with Cantor Equity Partners, a subsidiary of Cantor Fitzgerald, through a special purpose acquisition company (SPAC) and will be listed on Nasdaq under the ticker symbol "XXI" after obtaining SEC approval. This symbol represents the fixed supply of 21 million Bitcoins.

This company positions itself as a compliant channel for institutional investors to gain exposure to Bitcoin without needing to hold private keys directly. Each share of the company will represent a corresponding percentage of its Bitcoin reserves. Prior to going public, Twenty One Capital has been actively expanding its holdings. Its Bitcoin reserves have reached 43,500 BTC, surpassing early institutional adopters like Tesla.

Fed rate cut drives BTC to break $117,000

Another key catalyst for this round of Bitcoin's rise is the shift in macroeconomic policy. The Fed conducted its first interest rate cut of 2025 on Thursday, lowering it by 25 basis points to a range of 4%–4.25%.

Fed Chairman Jerome Powell subsequently stated that the decision to further cut interest rates depends on inflation and labor market data, which caused the Bitcoin price to briefly drop to $115,000. However, the market quickly digested this information, and the Bitcoin price rapidly rebounded, trading at $117,400 that evening. Other cryptocurrencies like Ethereum and XRP also generally rose. Analysts pointed out that lower interest rates typically enhance Bitcoin's appeal as an alternative asset, particularly for institutional investors seeking non-sovereign store of value.

Conclusion

The establishment of Twenty One Capital and its bold predictions not only represent another important milestone in the institutional adoption of Bitcoin but also reflect the market's long-term confidence in Bitcoin as a non-sovereign store of value asset. The Fed's interest rate cuts have further created a favorable macro environment for the rise of Bitcoin. Although the market may still fluctuate due to short-term macro data, the long-term value growth story of Bitcoin seems to have just begun as more institutions enter through compliant channels like XXI.