Bitcoin Treasury Twenty One to Become ‘More Than a Treasury Company’, Says New CEO

Bitcoin Magazine

Bitcoin Treasury Twenty One to Become ‘More Than a Treasury Company’, Says New CEO

Bitcoin treasury Twenty One’s new CEO has reassured investors that the firm will become “more than a Bitcon treasury” following shareholder concerns about the company.

The Tuesday letter to shareholders comes after the Bitcoin treasury — the second biggest in the space — released its quarterly earnings: the company posted a net loss of $413.5 million in Q2 2026, driven almost entirely by a non-cash “change in fair value” of its BTC holdings.

Bitcoin treasuries have faced a rough 2026 so far following Bitcoin’s price plunge. The leading cryptocurrency has shed about 50% of its value since it notched a all time high of $126,080 in October, hurting such companies’ stock price.

“Twenty One owns one of the largest Bitcoin balance sheets in the public markets. That is a real advantage, but if Twenty One is going to be worth owning, it must become more than a Bitcoin treasury,” wrote Raphael Zagury, who took the helm in July, replacing Jack Mallers.

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