Twenty One Capital CEO Jack Mallers Resigns After Bitcoin Strategy Dispute

• Jack Mallers has resigned from his position as CEO of Twenty One Capital due to strategic disagreements with the company’s leadership.
• Mallers will be able to completely dedicate himself to working on infrastructure for Bitcoin-based transactions at Strike.

Jack Mallers has resigned from his position as the CEO of Twenty One Capital due to strategic disagreements with the company’s leadership. Mallers has stated this in a video statement, stating that he and the company’s leadership no longer agreed on the company’s future. He emphasized that it was not a business for accumulating cryptocurrencies but for creating an operating business along with the biggest Bitcoin treasury of any corporation.

“When I helped start 21, I thought we had an opportunity to build something very specific. Not only a company built on Bitcoin, not only a company built with Bitcoin on its balance sheet, but also a company with Bitcoin businesses producing cash flow built alongside of it; however, over time, it became clear that the board and I did not agree on the path toward building for that vision.”

According to Mallers, he wished for the company to create consistent cash flow through Bitcoin native operations while at the same time keeping a substantial Bitcoin reserve. But over time, the Board became more and more supportive of a traditional corporate treasury approach involving efficient acquisition of Bitcoin. This difference in strategy finally made Mallers feel that leaving the company was the best decision for both the shareholders and the future of the company.

Twenty One Capital owns roughly 43,514 BTC, making it one of the largest corporations in terms of Bitcoin possession. Despite being disappointed about his resignation, Mallers continued to support his mission regarding creating products aimed at promoting Bitcoin.

Mallers Back at Strike

After he departed from Twenty One Capital, Mallers became fully committed to Strike, a Bitcoin payments network that he created before founding Twenty One Capital. Strike is continuing its growth in the field of financial services through payment services using the Lightning Network, cross-border transactions, treasury management solutions, and more. As Mallers put it, making financial instruments using Bitcoin useful for people and companies is his main goal.

This means that after leaving XXI Capital, Mallers will once again be focusing his attention on software development and not on managing a publicly traded Bitcoin treasury company.

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