二十一首资本将比特币国库推向了竞争对手迈克尔·赛勒的策略

二十一首首都是一家由罢工创始人杰克·马洛尔（Jack Mallers）领导的新的比特币财政部公司，在Tether，Softbank和Cantor Fitzgerald的支持下，正在寻求取代

Twenty One Capital, a new treasury company backed by Tether, SoftBank and Cantor Fitzgerald, is planning to launch with 42,000 Bitcoin (BTC) and is aiming to supplant Michael Saylor’s Strategy (NYSE:STR) as the “superior vehicle for investors seeking capital-efficient Bitcoin exposure.”

由Tether，Softbank和Cantor Fitzgerald支持的一家新的财政公司Twes Anc Capital计划与42,000个比特币（BTC）一起推出，并旨在取代Michael Saylor的战略（NYSE：STR），这是“寻求资本量的投资者的优势工具，以实现资本量的投资者。”

It will be launching with around 23,950 BTC from Tether, 10,500 BTC from Softbank and 7,000 BTC from Bitfinex, which will be converted into equity at $10 per share, according to an April 23 statement.

根据4月23日的一份声明，它将以Tether的大约23,950 BTC，来自软银的10,500 BTC和Bitfinex的7,000 BTC推出，该声明将以每股10美元的价格转换为股权。

The firm is planning to go public via a blank-check merger with Cantor Equity Partners (NYSE:CEP) and will trade under the ticker XXI on the Nasdaq. It is also planning to raise $585 million from investors through convertible bonds and equity financing.

该公司计划通过与Cantor Equity Partners（NYSE：CEP）进行空白的合并合并，并将在NASDAQ上的股票XXI下进行交易。它还计划通过可转换债券和股权融资向投资者筹集5.85亿美元。

“Our mission is simple: to become the most successful company in Bitcoin, the most valuable financial opportunity of our time. We’re not here to beat the market, we’re here to build a new one,” said Jack Mallers, the founder and CEO of Bitcoin payments-focused firm Strike and the new CEO of Twenty One.

“我们的使命很简单：成为比特币中最成功的公司，这是我们时代最宝贵的财务机会。我们不是在这里击败市场，我们在这里建立一个新的公司，”以比特币付款公司罢工和二十一名首席执行官的创始人兼首席执行官杰克·马洛尔（Jack Mallers）说。

In an investor presentation to the US Securities and Exchange Commission, Twenty One compared its business model to Strategy’s, claiming it is potentially a “superior vehicle for investors.”

在向美国证券交易委员会的投资者介绍中，二十一家将其业务模式与战略进行了比较，声称它可能是“投资者的优越工具”。

It claimed that Strategy’s ability to create shareholder value through future Bitcoin purchases will be limited because the firm — which holds 534,741 BTC — would need to make even larger investments to increase its Bitcoin Per Share, or BPS, thus diminishing the per-share dollar impact of future capital deployments.

它声称战略通过未来的比特币购买创造股东价值的能力将受到限制，因为该公司（拥有534,741 BTC的公司）将需要进行更大的投资，以增加其每股比特币或BPS，从而减少对未来资本部署的每股美元影响。

“As Star performs future capital deployments to buy additional Bitcoin, the incremental BPS impact of each dollar of capital deployed will diminish with each round of capital. This is because to achieve each 1.0x increment in BPS, Star will need to invest roughly $2.0 billion to $2.5 billion.”

“随着Star执行未来的资本部署来购买额外的比特币，每一轮资本都会减少每笔资本的增量BPS的影响。这是因为要实现BPS的每次1.0倍增长，Star将需要投资约200亿美元至25亿美元。”

Instead, Twenty One highlighted its ability to perform follow-on offerings at a cost of $5.0 to $7.5 billion to raise capital for future Bitcoin purchases.

取而代之的是，二十一项强调了其执行后续产品的能力，其成本为5.0至75亿美元，以筹集未来比特币购买的资本。

It added that Strategy investors would be taxed on any capital gains realized on their shares at rates of 20% to 23.8%, while investors in Twenty One would pay a lower rate of 15% on any capital gains realized from the sale of its shares or convertible bonds.

它补充说，战略投资者将以20％至23.8％的股份对其股票实现的任何资本收益征税，而二十一位投资者将对从出售其股份或可兑换债券的任何资本收益中支付15％的税率。

Further, it stated that Strategy investors are limited in their ability to diversify their holdings due to the small size of other publicly-listed Bitcoin companies.

此外，它指出，由于其他公开上市的比特币公司的规模很小，战略投资者的持股能力有限。

But Twenty One said it would be a more “pure play” for investors seeking Bitcoin exposure with Bitcoin-native operations and more “flexibility” for strategic capital raises.

但是二十一表示，对于寻求比特币本地操作的比特币敞口的投资者来说，这将是一个更“纯粹的游戏”，对于战略资本筹集而言，这将是一个更加“灵活性”。

A launch of 42,000 Bitcoin would make Twenty One the third-largest corporate Bitcoin holder, putting it behind only Strategy and Bitcoin mining firm MARA Holdings (NASDAQ:MARA), which holds 47,600 BTC, according to BitcoinTreasuries.NET data.

根据BitCointReasuries.net Data的数据，二十,000个比特币将使二十一名成为第三大公司比特币持有人，将其置于策略和比特币采矿公司Mara Holdings（NASDAQ：MARA）之后，该公司拥有47,600 BTC。

Twenty One also plans to do more than just stack Bitcoin. The firm also intends to build out several Bitcoin-focused offerings, including Bitcoin debt and equity products, an advisory service, a lending platform and an educational platform.

二十一个还计划做更多的事情，而不仅仅是堆叠比特币。该公司还打算建立几个以比特币为中心的产品，包括比特币债务和股票产品，咨询服务，贷款平台和一个教育平台。

“Twenty One’s mission will be to accelerate Bitcoin adoption and Bitcoin literacy at both institutional and retail levels,” the firm said.

该公司说：“二十一个任务将是在机构和零售水平上加速比特币采用和比特币素养。”

It will also partner with industry players to host Bitcoin conferences.

它还将与行业参与者合作，举办比特币会议。

The news sparked a massive 54.2% price rally in Cantor Equity Partners (NYSE:CEP) shares to $16.50 on April 23 and has risen another 25.1% in after-hours, Google Finance data shows. CEP will convert to XXI once the $585 million agreement is completed.

Google Finance数据显示，这一消息在Cantor Equity Partners（NYSE：CEP）的股票上引发了54.2％的价格集会，4月23日至16.50美元，在下班后又增加了25.1％。达成5.85亿美元的协议完成后，CEP将转换为XXI。

The venture strengthens Tether’s ties with Cantor, which manages the US Treasury reserves backing Tether’s USDT, which boasts a market cap of $145.3 billion. Cantor also owns a 5% stake in the stablecoin issuer.

该合资企业加强了与Cantor的Tether联系，该公司管理着美国财政部的支持Tether的USDT，该公司的市值为1453亿美元。 Cantor还拥有Stablecoin发行人5％的股份。

Twenty One will be majority-owned by Tether and crypto exchange Bitfinex, while Japanese investment holding firm SoftBank will own a “significant” minority share.

Tether和Crypto Exchange Bitfinex将二十一人拥有多数，而日本投资持有公司Softbank将拥有“重要”的少数股份。