Twenty One Capital: Proactive Upgrade of BTC Configuration Path 🔍 In the financing information of Twenty One Capital, BTC is treated as a "capital asset", what does it mean? This is the first time Tether has used BTC as a primary market investment tool, equivalent to entering the asset structure table in the form of gold or US dollar bonds. It emits two signals: ✅ BTC has officially become a core unit in the balance sheet that can be exchanged and appreciated; ✅ The market's recognition of its asset attributes has shifted towards collateralized assets and valuation anchoring 🧠 21 Capital's positioning is closer to an actively managed BTC finance tool Establish BTC positions specifically through financing methods such as PIPE and convertible bonds Using BTC as a consideration asset to participate in equity structure Relying on BTC position appreciation, with "per share position growth" as the core value source rather than traditional revenue driven. 📦 Why choose SPAC? SPAC provides a "predictable+efficient" entry structure for cryptocurrency companies: one ️⃣ Compared to the traditional IPO process, it is more flexible, reducing obstacles in the SEC registration process and substantive questioning of the main business model through mergers rather than direct issuance of new shares two ️⃣ Valuation terms can be locked in with investors in advance, with BTC contributing at a valuation of 85000 and corresponding to a 10/share pricing to avoid short-term price fluctuations 🧭 Potential linkage with macroeconomic policies After the Trump administration's high-profile proposal of the "Bitcoin Strategic Reserve" policy path, the capital design and role definition of 21 Capital are likely to become: ➡️ A reserve experimental platform at the grassroots level; ➡️ Standardized sample of BTC asset system access path; ➡️ The prototype structure of the fusion of stablecoins, Bitcoin, and political capital. 📈 Potential impact on market structure 🟢 Besides ETF buying, there is a structured 'institutional level position' 🟢 PIPE financing+BTC consideration=sustainable, scalable, and rhythmic buying logic; 🟢 The BTC price will be partially anchored to equity valuation expectations and financing structure, rather than solely driven by on chain sentiment. 🟢 Once successfully listed, BTC will have a 'market value linked stock mirror', providing retail investors with a low friction indirect participation channel TwentyOneCapital BTC Institutionalization CryptoSPAC PIPE DigitalAssets Tether SoftBank CantorFitzgerald Crypto BitcoinEquity