Building the Berkshire Hathaway of Bitcoin | Twenty One Capital CEO Rapha Zagury

Bitcoin Magazine Building the Berkshire Hathaway of Bitcoin | Twenty One Capital CEO Rapha Zagury Twenty One Capital holds roughly 43,000 Bitcoin but trades at a discount, and CEO Rapha Zagury is working to fix that. He breaks down how to calculate Twenty One’s mNAV, why he doesn’t love the metric for an operating company, and whether share buybacks could be on the table. He also explains how Tether’s backing gives Twenty One permanent capital, a key edge over other treasury companies. Chapters:0:00 – Twenty One CEO Rapha Zagury on Building the Berkshire Hathaway of Bitcoin0:53 – What Twenty One Looks for in Bitcoin Acquisition Targets3:10 – Twenty One’s Five Pillars and Tether’s Backing6:57 – mNAV, the 30% Discount and Share Buybacks9:38 – Would Twenty One Issue Preferred Stock Like Strategy?11:01 – Building a Bitcoin Capital Markets and Energy Trading Arm12:48 – Why Bitcoin Is the Best Collateral for Lending15:49 – Bitcoin’s Strength vs. Gold Amid Macro Uncertainty19:21 – Institutions as Bitcoin’s Next Big Buyers21:30 – Hash Rate Bear Market, AI and Bitcoin Mining Opportunities DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions. This post Building the Berkshire Hathaway of Bitcoin | Twenty One Capital CEO Rapha Zagury first appeared on Bitcoin Magazine and is written by Patrick Green.