Twenty One Capital reports $1.09 billion Q3 profit, driven by bitcoin revaluation
MARKETSTwenty One Capitalcoinbrief/daily · 2 sources
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What happened
Twenty One Capital, a company that holds bitcoin, reported a profit of about $1.09 billion for the third quarter. Its CEO said almost all of that came from the rising value of the bitcoin it owns, not from its day-to-day business, which made a small operating loss.
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What to do
- Watch for the next quarterly shareholder letter, which Zagury says will be published each quarter.
- Note that the company says buybacks deserve serious consideration when shares trade below the value of its assets.
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