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The race for Bitcoin supremacy just got more complicated.
Twenty One Capital, backed by Tether, SoftBank, and Cantor Fitzgerald, plans to stack as much BTC as it possibly can.
But is this new venture really about Bitcoin … or about creating a hyper-volatile stock to play market cycles?
This week on Unchained, Jeff Park of Bitwise and Mark Palmer of Benchmark join to discuss:
- Why SoftBank and Tether are a “perfect match”—and why they turned to Bitcoin
- How volatility, not bitcoin itself, might be the real asset investors are buying
- What Cantor’s involvement says about Wall Street’s readiness for crypto
- Why the launch timing matters
- Whether Twenty One could repeat MicroStrategy’s mistakes
- Whether these new Bitcoin vehicles are better bets than spot bitcoin or ETFs
Plus, is SoftBank getting into crypto a top signal? 👀
Thank you to our sponsors!
EPISODE TRANSCRIPTGuests:
- Jeff Park, Head of Alpha Strategies at Bitwise
- Mark Palmer, Senior Analyst at Benchmark
Links
- Recent coverage of Unchained on Twenty One: Twenty One Aims to Buy as Much Bitcoin as Possible. Can It Succeed?
- Press Release: Tether, SoftBank Group, and Jack Mallers Launch Twenty One, a Bitcoin-native Company, Through a Business Combination With Cantor Equity Partners
- Jeff Park’s post on X
bitcoin ones
