Twenty One Capital Becomes Second-Largest Publicly Traded BTC Holder

Founded by Jack Mallers, Twenty One Capital is a publicly traded company built around Bitcoin as its core asset. Companies that accumulate BTC through debt or fundraising can amplify gains when prices rise, but may also be forced to sell when debt matures or liquidity runs short. Shifts in corporate Bitcoin rankings therefore reflect the resilience of their treasury strategies.

In March 2026, Bitcoin miner MARA sold part of its holdings to repay debt and was reported to have disposed of the assets at a loss. Following the reduction in MARA’s holdings, Twenty One Capital moved into second place among publicly traded Bitcoin holders worldwide with 43,514 BTC, behind only Strategy. The change also highlights the funding pressure facing highly leveraged Bitcoin accumulation models.