二十一首资本在其公司财政部发起了42,000比特币（BTC）

二十一首资本于2025年4月推出，其公司财政部超过42,000比特币（BTC）。该公司成为最大的机构比特币持有人之一，排名

Twenty One Capital, a new company backed by Tether, Bitfinex, and SoftBank, launched on Monday with more than 42,000 Bitcoin (BTC) in its corporate treasury. The company is one of the largest institutional Bitcoin holders, ranking behind only MicroStrategy and Marathon Digital. The BTC holdings are worth more than $3.6 billion at current market value.

Tether，Bitfinex和Softbank支持的一家新公司二十一首资本于周一在其公司财政部发起了超过42,000个比特币（BTC）。该公司是最大的机构比特币持有人之一，仅落后于Microstrategy和Marathon Digital。 BTC持有量在当前市场价值上的价值超过36亿美元。

The company was formed through a merger with Cantor Equity Partners (NYSE:CEPH), a special purpose acquisition company (SPAC). Twenty One Capital will trade publically on the New York Stock Exchange under the ticker symbol “XXI.” CEO Jack Mallers, who also leads Strike, will manage the company’s operations and Bitcoin-focused strategy.

该公司是通过与特殊目的获取公司（SPAC）的Cantor Equity Partners（NYSE：CEPH）合并而成立的。二十一首资本将以股票符号“ xxi”公开在纽约证券交易所进行交易。还领导罢工的首席执行官杰克·马勒斯（Jack Mallers）将管理公司的运营和以比特币为重点的战略。

Twenty One Capital aims to offer exposure to Bitcoin through public markets. Its launch brings a new institutional Bitcoin vehicle backed by major firms.

21个资本旨在通过公共市场提供对比特币的接触。它的发布带来了由主要公司支持的新机构比特币车辆。

Tether and Bitfinex together transferred 31,500 BTC to Twenty One Capital, which formed the core of the initial BTC treasury. Meanwhile, SoftBank acquired a minority stake in the company by purchasing shares from Tether.

系绳和Bitfinex共同将31,500 BTC转移到了21个资本，这构成了初始BTC财政部的核心。同时，软银通过从Tether购买股票来收购了公司的少数股权。

In addition, the company plans to raise $585 million in capital through equity sales, convertible notes, and debt. These funds will be used to buy more Bitcoin and for operational needs. The structure allows the company to focus only on Bitcoin acquisition and storage.

此外，该公司计划通过股票销售，可转换票据和债务筹集5.85亿美元的资本。这些资金将用于购买更多比特币和用于运营需求。该结构允许公司仅专注于比特币采集和存储。

Cantor Fitzgerald is involved through its SPAC, which brings strong capital markets experience into the company. The formation process also includes planned metrics to track Bitcoin ownership.

坎托·菲茨杰拉德（Cantor Fitzgerald）通过其SPAC参与其中，这将强大的资本市场经验带入了公司。编队过程还包括计划的指标以跟踪比特币所有权。

Bitcoin Per Share (BPS) is the primary metric that will be used by Twenty One Capital. This metric showcases how much Bitcoin backs each share of the company’s stock, which is publicly traded. The company claims that this replaces the typical earnings-per-share metric used in traditional stocks.

每股比特币（BPS）是21个资本将使用的主要指标。该度量标准展示了比特币在公开交易的公司股票中的每份份额。该公司声称，这取代了传统股票中使用的典型每股收益度量。

The company will also be reporting a Bitcoin Return Rate (BRR), which showcases the growth of Bitcoin per share over time. These metrics align with the company’s stated goal to increase Bitcoin per share, not fiat earnings.

该公司还将报告比特币回报率（BRR），该回报率随着时间的推移展示了每股比特币的增长。这些指标符合该公司所陈述的目标，即增加每股比特币，而不是法定收入。

This structure allows the stock price to mirror the performance of its BTC treasury. If BTC rises in the market, so might the share price. If the company increases its BTC holdings, the Bitcoin per share ratio improves, which could attract more investors to the stock.

这种结构使股票价格可以反映其BTC财政部的性能。如果BTC在市场上上涨，股价也可能。如果公司增加了BTC持有量，则每股比特币比率会提高，这可能会吸引更多的投资者加入股票。

Jack Mallers will serve as CEO. He is known for efforts to integrate Bitcoin payments into traditional finance through his Strike platform. His role at Twenty One Capital will include expanding the company’s Bitcoin holdings and driving its broader strategy.

杰克·马拉尔（Jack Mallers）将担任首席执行官。他以通过罢工平台将比特币支付纳入传统金融的努力而闻名。他在二十一首资本的角色将包括扩大公司的比特币持有量并推动其更广泛的战略。

“We are focused on maximizing Bitcoin per share and developing Bitcoin-native financial tools that can revolutionize the industry,” said Mallers.

马拉尔斯说：“我们专注于最大限度地提高比特币的每股比特币，并开发可以彻底改变行业的比特币本地财务工具。”

He added that the company will not diversify into other cryptocurrencies, assets, or revenue streams. Instead, it will concentrate solely on Bitcoin and expanding its treasury holdings.

他补充说，该公司不会多元化到其他加密货币，资产或收入流。取而代之的是，它将仅集中于比特币并扩大其国库券。

This approach makes a shift in how institutions may treat Bitcoin. Rather than allocating a percentage of assets to BTC or investing in a basket of tokens, Twenty One Capital’s entire business model centers around it.

这种方法改变了机构如何治疗比特币。而不是将一定比例的资产分配给BTC或投资一篮子代币，而是围绕它的21个资本的整个商业模式中心。

After the launch announcement, Cantor Equity Partners’ shares (NYSE:CEPH) surged by over 460%. This increase reflects strong market interest in Bitcoin-focused public firms. The move came during a 30% price increase in BTC over recent weeks.

发布公告后，Cantor Equity Partners的股票（NYSE：CEPH）飙升了460％以上。这种增长反映了针对比特币的公务公司的强烈市场兴趣。此举是在最近几周BTC价格上涨30％的情况下进行的。

The share price signals broader acceptance of institutional Bitcoin models. Analysts have connected the jump to investor interest in BTC-backed stocks. However, the company’s strategy, structure, and corporate control have also raised concerns.

股价信号更广泛地接受机构比特币模型。分析师将跳高与投资者对BTC支持的股票的兴趣联系起来。但是，公司的战略，结构和公司控制也引起了人们的关注。

The concentration of Bitcoin in corporate treasuries may impact the cryptocurrency’s supply and the long-term structure of the market. Some market participants expressed concerns about the impact of one company holding 42,000 BTC.

比特币在公司国库中的集中度可能会影响加密货币的供应和市场的长期结构。一些市场参与者对拥有42,000 BTC的一家公司的影响表示担忧。

With Bitcoin’s total supply capped at 21 million, large corporate holdings can limit the cryptocurrency’s availability for individual users.

随着比特币的总供应量为2100万，大型公司持有可能会限制加密货币对个别用户的可用性。

“It’s honestly baffling to me how guys like Jack Mallers and Michael Saylor can so brilliantly explain why Bitcoin is the most superior asset ever created, and then use the same explanation to try and sell you a stock,” said Mati Greenspan, CEO of Quantum Economics.

Quantum Economics的首席执行官Mati Greenspan说：“老实说，这让我感到困惑，像杰克·马拉斯（Jack Mallers）和迈克尔·赛勒（Michael Saylor）这样的人如何如此出色地解释为什么比特币是有史以来最出色的资产，然后使用相同的解释来尝试向您出售股票。”

His comments highlight a segment of the community that remains cautious about the rapid pace of institutional Bitcoin accumulation.

他的评论突出了社区的一部分，这些部分对机构比特币积累的快速速度保持谨慎。

However, Matt Mena, Head of Markets at 21Shares, pointed out that institutional ownership does not alter the Bitcoin protocol or centralize the asset.

但是，21shares市场负责人马特·梅纳（Matt Mena）指出，机构所有权不会改变比特币协议或集中资产。

“They simply offer new access points that integrate Bitcoin into existing financial infrastructure,” Mena stated. He added that users can still access Bitcoin directly, without going through institutions. Mena highlighted the difference between owning Bitcoin through a company like Twenty One Capital and an individual choosing to hold Bitcoin in their own wallet.

梅纳说：“他们只是提供了将比特币整合到现有金融基础设施中的新接入点。”他补充说，用户仍然可以直接访问比特币，而无需浏览机构。梅纳（Mena）强调了通过像二十一首资本这样的公司和一个人选择在自己的钱包中拿着比特币的公司之间的区别。

This discussion continues the broader narrative within the Bitcoin ecosystem over preferred ownership models and how to ensure decentralized access to the cryptocurrency.

这次讨论延续了比特币生态系统中更广泛的叙述，而不是首选所有权模型以及如何确保分散的加密货币访问权限。

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