The company is led by Strike CEO Jack Mallers and began trading under the XXI ticker today following its SPAC merger with Cantor Equity Partners.
For now, Jack Mallers decided to not comment any further and JPMorgan declined to explain why it debanked the CEO of a company very similar to newly launched JPM Coin.
A crypto analyst has issued a decisive projection that challenges the long timelines often associated with major price milestones for Bitcoin. His outlook was presented in response to the ultra-bullish forecasts from Michael Saylor and Jack Mallers, who have spoken openly about the possibility of Bitcoin reaching between $1 million and $20 million per coin. Rather than focusing on Bitcoin’s distant targets, the analyst directed attention to XRP, insisting that XRP will reach $100 long before Bitcoin touches the seven-figure mark. Analyst Says XRP Will Reach $100 Before Bitcoin’s Million-Dollar Target There have been many bullish predictions of Bitcoin breaking above the $1 million mark in recent months, with notable names like Michael Saylor and Cathie Wood pointing to million-dollar targets. Related Reading: Analyst Claims XRP Will Flip Bitcoin As These Developments Play Out However, an analyst who goes by the name 24HRSCRYPTO on the social media platform X referenced Saylor and Mallers’ price prediction, which places future Bitcoin valuations in the tens of millions per coin and implies a market cap approaching $500 trillion. He contrasted those long-range projections with what he believes is a more attainable and nearer-term milestone for XRP. Punching in the numbers shows that XRP is a 4,445% move away from $100 based on its current price level of around $2.2. Bitcoin, on the other hand, is 990% away from the $1 million price. Even with that difference, the analyst noted, “You will see XRP at $100 before Bitcoin hits $1 million.” The statement points to the view that XRP is positioned for faster price growth in the foreseeable future, as seen by price dynamics in the past few months. The crypto is increasingly being positioned in a situation where demand and adoption of the Ripple ecosystem could take it to new heights. On the other hand, Bitcoin’s price action is slowing down relative to XRP. Notably, technical analysis of the XRP/BTC pair places XRP on the path to outperforming Bitcoin in the coming weeks and months. The Altcoin Will Hit $1,000 Before Bitcoin Touches $19 Million The analyst extended his projection even further by asserting that XRP could rally to $1,000 before Bitcoin comes close to the $19 million figure referenced by Saylor. Such a valuation for Bitcoin would imply a market capitalization of roughly $500 trillion, a scale far beyond anything seen in global financial history. Related Reading: Analyst Claims XRP Price Will Surge To $220 Due To ETFs, But Is This Possible? Measured from today’s levels, Bitcoin would need to climb roughly 20,635% to reach the $19 million mark. XRP’s path to $1,000 amounts to an even larger jump of about 45,300%, which corresponds to a market cap of $60 trillion based on its current circulating supply. Still, XRP reaching $1,000 is, in his view, more feasible than Bitcoin reaching millions per coin. Featured image from iStock, chart from Tradingview.com
Jack Mallers, founder and CEO of Strike, ignited fresh debate over Washington’s still-undisclosed Bitcoin balance on Wednesday night, arguing that the US government is withholding the numbers because its position is “too small to lead” the digital-asset economy. “The US won’t disclose their BTC holdings. Why? Because they realized they don’t own enough,” Mallers posted on X, adding that the Strategic Bitcoin Reserve (SBR) race is “far from over” and “I expect this to heat up.” US Bitcoin Silence Hints At Bigger Problem In a video attached to the post, the 30-year-old entrepreneur expanded on the point. He praised the administration’s decision in March to create an SBR but said the follow-through has fallen short: “The US government has kind of let us down in not giving us the full audit of how much Bitcoin the US government owns. … Clearly that information is sensitive or else they would disclose it. … I think that the US government is ashamed of its Bitcoin position.” Related Reading: Bitcoin Net Taker Volume Stays Bearish – Fragile Market Structure Risks Liquidation Cascade President Donald Trump’s Executive Order 14233 on 6 March formally established the Strategic Bitcoin Reserve alongside a broader Digital Asset Stockpile, framing Bitcoin as a “unique store of value in the global financial system.” A follow-up White House fact sheet stressed the goal of “positioning the United States as a leader among nations in government digital-asset strategy.” Yet when the administration unveiled its 163-page digital-assets strategy on 30 July, the document offered only a fleeting reference to the SBR and no hard figures. Robert “Bo” Hines—executive director of the President’s Council of Advisers on Digital Assets—noted, “I can’t discuss that right now … There are several reasons we’re not disclosing that at this time.” Over the past months, Hines’ tone was not apologetic. “We want as much Bitcoin as we can possibly get, and we’re going to continue to work on that,” he said in a separate interview, describing Bitcoin as “digital gold”. For years analysts believed the US government controlled well over 200,000 BTC thanks to Silk Road, Bitfinex-hack and other forfeitures. But a Freedom of Information Act response released in mid-July showed the US Marshals Service holding just 28,988 BTC—about $3.3 billion at today’s prices—rekindling speculation that earlier administrations quietly liquidated a large share of the trove. Separate on-chain data confirm that federal wallets sent 30,175 BTC to Coinbase Prime as early as April 2024, with additional transfers worth $1.9 billion following in December 2024. Related Reading: Bitcoin Stuck In Macro Purgatory—Top Analyst Says Q4 Or Bust Mallers seized on those numbers. “I think the Democrats sold off a bunch of that Bitcoin, and they don’t want to announce anything until they can build the position back,” he said, calling the audit delay “a branding problem” for a country that bills itself as the future Bitcoin super-power. Market Backdrop Bitcoin is trading above $114,000 after peaking at $123,000 last week, up more than 100 percent year-on-year. The float is already constrained: roughly 92 percent of all coins are mined, and large swaths sit in dormant or long-term-holder wallets. Should the Treasury accelerate SBR purchases—as Mallers predicts—the incremental buy-side pressure could tighten supply further. From Mallers’ vantage point, the political embarrassment he describes is ultimately price-positive: “If the US wants to plant its flag as the crypto capital, it has no choice but to accumulate. That’s the bullish takeaway. We’re talking about a buyer with the deepest pockets on Earth.” Whether Congress will backstop those purchases is another matter. Senator Cynthia Lummis has re-introduced a bill directing the Treasury to acquire up to one million BTC over five years, but appropriations committees have yet to schedule hearings. At press time, BTC traded at $114,572. Featured image created with DALL.E, chart from TradingView.com
Bitcoin's fixed supply will force higher prices as capital markets ramp up buying, Mallers said in an interview with Bloomberg TV.
The fresh fundraising comes ahead the firm's merger with Nasdaq-listed Cantor Equity Partners to become a publicly-traded bitcoin treasury company.
"You shouldn’t have to sell the best-performing asset in human history to access cash. Now you don't have to," founder Jack Mallers wrote.
TD Cowen says launch of Twenty One could shift institutional sentiment and validate MSTR’s long-term bitcoin strategy.
Investors flock to Cantor Equity Partners ahead of its potential merger with Twenty One Capital.
The Japanese Prime Minister said it is “difficult for the government to express its views” on implementing a Bitcoin strategic reserve.
It comes as the Federal Reserve is expected to go ahead with a rate cut next week, rumors that Trump may use Bitcoin as a US reserve asset from “day one” and more.
Bitcoin-focused payments firm Strike is expanding its services to African countries including Nigeria, South Africa and Zambia, the company announced in a blog post Tuesday.