Exchanges· ★★★· neutral·

Twenty One Capital to buy cash-flowing operating businesses on top of its bitcoin treasury

  • —Twenty One Capital holds about 43,000 BTC worth roughly $3.5 billion against a company valuation near $2.5 billion
  • —The discount to the value of its bitcoin holdings is about 30%
  • —M&A criteria include cash flow, growth and scalability using low-cost capital
  • —About two-thirds of its bitcoin is unencumbered and can be used for financing
Why it matters: Bitcoin treasury companies may shift from simply holding BTC to acquiring operating businesses, changing how investors value such issuers.
#BTC
Source: TokenPost
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