Jack Mullers is a Fonder strike(this always seems like every crypto version of Cash App), he’s just been appointed CEO of a new company called Twenty One and is leading a second venture because he’s not wasting time setting the tone. His mission? He overtook Michael Saylor and Strategy (formerly Micro Strategy) as Bitcoin’s biggest corporate holder.
In a technology interview with Bloomberg, Mullers placed it in the plains. 21 people are not trying to become fintech, banks or crypto hedge funds. Bitcoin First and Bitcoin only companies. Everything it does is centered around one goal, from the product it builds to how it returns value to investors.
“We want to be the best way investors can get to experience Bitcoin in the open market,” Mullers said.
The ideas of the 21 people came after years of involvement in Bitcoin infrastructure. Now he aims to do things that no one else has done. Since day one, we have been building a public company from scratch, which is a native Bitcoin company. There are no pivots from the old school industry. There are no legacy luggage.
On the other side of the ring is Michael Saylor. Michael Saylor has basically become a child of the corporate Bitcoin accumulation poster. Over 530,000 BTC is the vault of strategy, and Saylor is rewriting its playbook for the capital markets. It has grown billions through Bitcoin-backed bonds and prioritized stocks to fuel the ever-growing stack of companies.
The Marauers have not denied the influence of Saylor. In fact, he says that Saylor was part of the inspiration. But if Saylor evolves a decades-old company into a Bitcoin vehicle, Mallers is building a future from scratch. It’s New School vs Old School and the battlefield is Bitcoin.
Realistically, at least when it comes to Bitcoin’s holding, the 21-person goal is to keep up with the strategy, is a long shot. The company will launch with 43,000 BTC in hand. This is a huge amount in other situations, except that it compares to the strategy’s 530,000 BTC.
Where they can make their own names is becoming the company that currently has the most Bitcoin accumulation, but it is unlikely that Saylor will abdicate as the person who currently has the most Bitcoin holdings.
Is this a good thing?
With immediate results increasing prices, it’s easy to get caught up in the immediate impact of companies fighting over who can accumulate the most Bitcoin. When it comes to supply and demand, whales with huge appetite clearly add a lot of momentum to the end of “demand”.
But it also places the power to crash the entire market in the hands of a very small group of people. Of course, Saylor and in fact, investors who have a fundamental understanding of the market will never dump 530k BTC on the market at once. This erases your own profits as the market crashed before even half of the coins were sold.
However, even if there are fewer parts like 10%, for example, it’s still over $3 billion in strategy. Secondly, considering this could lead to another large owner in panic, it’s not just the number of tokens sold by one major owner, but also the total price that scares others when a large red candle appears.
Then there’s an obvious argument for companies trying to get as much Bitcoin as possible – remember decentralization? It’s easy to forget about two companies that want everything.
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author: Adam Lee
Asian News Desk
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