Bitcoin firm Twenty One Capital drops 20% on first day of trading

2M ago•

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bearish:

Twenty One Capital came to market with over $4 billion in Bitcoin, but its lack of publicly shared business plans appears to have led some investors to the exit.

Shares in Twenty One Capital (XXI), the newest crypto treasury company in the US, slid 20% on its trading debut after merging with the blank-check company Cantor Equity Partners.

Twenty One Capital opened trading on Tuesday at $10.74, below the closing price of $14.27 on Monday for Cantor’s special purpose acquisition company that it merged with.

The new Bitcoin (BTC)-focused company’s stock closed trading on Wednesday at $11.42, down 19.97% over 24 hours.

2M ago•

Cointelegraph

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bearish: