Twenty One Capital Drops in NYSE Debut as Bitcoin Treasury Firms Face ‘Broader Re-Pricing’

Twenty One Capital began trading on the New York Stock Exchange as XXI on Tuesday after completing its merger with Cantor Equity Partners, entering the market with more than 43,000 BTC worth almost $4 billion already on its balance sheet, primed in a position among the world’s largest public corporate holders of the asset. Yet its trading debut was met with sharp selling, with XXI shares spending the session at roughly $11, putting it well below Cantor Equity Partners’ final pre-merger close near $14. De ...