New Twenty One Capital CEO outlines new priorities after $413.5M Q2 loss
The new CEO of Twenty One Capital (NYSE: XXI) Raphael Zagury has announced to shareholders that the Bitcoin treasury firm must grow beyond its balance sheet.
He made the announcement on Tuesday, even as he listed out five main objectives for the Tether-controlled firm following a $1.27 billion loss in H1 of 2026.
Bitcoin’s slump caused most of Twenty One Capital’s loss
The loss of $1.27 billion was linked to movement in the market rather than an operational failure. The major cause was the crash in the price of Bitcoin, which makes up most of the company’s portfolio.
Twenty One Capital, based in Austin, Texas, trades on the NYSE using the XXI ticker symbol. As of June 30, the company holds 43,514 BTC, which is worth ~$2.8 billion right now.
Twenty One Capital is currently the second-largest corporate Bitcoin holder. The company disclosed the purchase of 6,284 BTC in July, while Michael Saylor’s Strategy, the largest corporate Bitcoin holder, has sold ~7,000 BTC this year.
XXI filed its quarterly report for Q2 with the SEC on Tuesday, August 11. And its revenue is practically zero, showing the need for an operating plan more than ever.
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