Twenty One Capital Posts $1.087 Billion in Q3 Net Income on Bitcoin Valuation Gains
Summary
- Twenty One Capital said it posted $1.087 billion in net income in the third quarter of this year.
- It said most of its third-quarter net income came from $1.093 billion in valuation gains from Bitcoin's price increase.
- It said Bitcoin holdings stood at 43,514 as of the end of the third quarter.
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Twenty One Capital, a US corporate Bitcoin treasury company, posted more than $1 billion in net income in the third quarter.
According to a shareholder letter filed with the US Securities and Exchange Commission on November 13, the company reported third-quarter net income of $1.087 billion.
Most of that profit came from valuation gains as Bitcoin prices rose. Twenty One Capital recorded about $1.093 billion in Bitcoin valuation gains in the third quarter.
Chief Executive Officer Rafa Zagury said gains from an increase in the value of the company's holdings differ from profits generated by its underlying business.
"Our task is to build the latter," he said.
Twenty One Capital held 43,514 Bitcoin as of the end of the third quarter.
Uk Jin
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