Galaxy Says Jack Mallers’ XXI Could Rival MicroStrategy After Tether’s Proposed Merger
BeInCrypto
A proposed merger involving Twenty One Capital, Strike, and Elektron Energy could create a major Bitcoin-focused competitor to MicroStrategy.Summary
Galaxy Research suggests that a proposed merger between Twenty One Capital (XXI), Strike, and Elektron Energy would establish the combined entity as a top competitor to MicroStrategy in the Bitcoin industry. Alex Thorn of Galaxy Research notes that while the new company would possess significant Bitcoin holdings, it would also distinguish itself from MicroStrategy through meaningful operating cash flows from Strike and mining production from Elektron Energy. However, the deal faces potential governance hurdles, including concerns over related-party ties and ongoing litigation involving key executives.
(Source：BeInCrypto)