Jack Mallers, the co-founder and CEO of Twenty One Capital, recently suggested that Bitcoin could grow to a $500 trillion market cap.
Mallers said this while sharing his company’s vision in an interview with Bloomberg. He explained how Twenty One Capital plans to grow in the Bitcoin scene despite being one of the earliest firms to adopt the Bitcoin standard.
Jack Mallers Reveals Twenty One Capital’s Ambitious Plans
For context, Twenty One Capital launched in 2025 after merging with Cantor Equity Partners, a Nasdaq-listed SPAC. The company started with more than 42,000 BTC contributed by backers such as Tether, SoftBank Group, and Bitfinex, making it the third-largest corporate Bitcoin holder from day one.
Now, with a pro-forma enterprise value of $3.6 billion, the company set a goal to increase its holdings to about 43,500 BTC while keeping its average purchase price near $87,280 per coin.
However, Jack Mallers clarified that the company plans to do much more than buy Bitcoin and hold it. “We want to be the best Bitcoin company in the world,” he said. He explained that Twenty One Capital would keep using its cash flow to acquire more Bitcoin while building financial products and services designed around the premier crypto asset.
During the interview, Mallers described a gap he sees in the market. On one side, firms like Coinbase focus on running exchanges that trade many cryptocurrencies. On the other side, companies like MicroStrategy buy and hold Bitcoin for their corporate treasuries, but stop there.
Mallers, who is also the founder of Strike, believes Twenty One Capital can sit in the middle by raising capital, growing its Bitcoin reserves, and launching Bitcoin-based financial services. “That’s exactly the market hole we want to fill,” he said.
“Bitcoin Is a $500T Asset in the Making”
The 21 Capital CEO suggested that exchanges that do not focus only on Bitcoin are “missing the forest for the trees,” boldly claiming that “Bitcoin’s a $500 trillion asset in the making.”
The $500T use case for #Bitcoin? Capture the value you create today and bring it with you into tomorrow.
Every day you trade your hard work for something, hoping it will afford you the things you’ll need in the future.
Fiat is broken. Bitcoin is the fix pic.twitter.com/BlDdT2f0vt
— Jack Mallers (@jackmallers) August 28, 2025
Interestingly, this projection goes far beyond Michael Saylor’s well-known forecasts. Saylor, whose firm MicroStrategy pioneered the corporate Bitcoin treasury approach, has projected BTC could one day reach a $280 trillion market cap. In another prediction, he suggested Bitcoin could trade at $21 million per coin by 2046.
Remarkably, Mallers’s vision suggests Bitcoin could go even higher, potentially reaching $25.11 million per coin based on the current circulating supply of around 19.91 million tokens.
Meanwhile, Mallers also pushed back against labeling Twenty One Capital as only a Bitcoin treasury company. He explained that the firm plans to raise capital, expand its Bitcoin reserves, develop products, and build cash-generating businesses, all with a strict focus on Bitcoin.
He said this approach would combine the strengths of treasury accumulation with financial innovation, creating a model that is unlike any other in the crypto scene.
The company plans to trade on Nasdaq under the ticker “XXI” once it receives final regulatory and shareholder approvals. Mallers added that investors would have full transparency into the firm’s holdings through on-chain proof of reserves.
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