Bitcoin reserve company Twenty One Capital's stock price drops 24% on its first day of trading
Jinse Finance reported that stablecoin giant Tether and SoftBank Group-backed bitcoin asset reserve company Twenty One Capital saw their share price plummet on the first day of trading. The company, with the stock ticker XXI, fell 24% on Tuesday morning. Twenty One Capital went public on the New York Stock Exchange through a merger with special purpose acquisition company Cantor Equity Partners. Twenty One holds 43,514 bitcoins, valued at approximately $4 billion at current prices. According to bitcointreasuries data, the company is the third largest corporate bitcoin holder, following Michael Saylor's Strategy and bitcoin mining company MARA Holdings.
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