Jack Mallers: How We Started Our Bitcoin Treasury Company

Jack Mallers, at only 31, is making significant strides in the Bitcoin world. His entrepreneurial journey, marked by the founding of Strike and Zap, and his involvement in El Salvador’s Bitcoin adoption, has led him to establish Twenty One, a new Bitcoin treasury company poised to rival industry giants.

The genesis of Twenty One stemmed from discussions within a Telegram group chat involving Mallers and executives at Tether, where he maintains a long-standing friendship with CEO Paolo Ardoino. Their shared commitment to open-source initiatives, Bitcoin development, and El Salvador’s Bitcoin adoption fostered the idea. Mallers explains that the lack of a reputable, well-capitalized Bitcoin treasury company prompted them to take action. The partnership quickly materialized, with SoftBank joining as a launch partner, contributing $1 billion in Bitcoin, rather than dollars, reflecting Mallers’ Bitcoin-centric perspective.

Twenty One’s launch will include at least 2,000 Bitcoin, securing its position as one of the world’s largest Bitcoin treasuries. Mallers’ passion for Bitcoin stems from a deep understanding of monetary policy and the inherent flaws of government-controlled currencies. He emphasizes the debasement of money through inflation as a driving force behind his work, viewing Bitcoin as a solution to this issue.

Mallers articulates his vision of Bitcoin, not merely as an asset or technological innovation, but as a moral code embodying principles of non-censorship, non-inflation, non-confiscation, non-counterfeiting, and non-theft. He seeks to portray Bitcoin not just as a tool for financial speculation but as an ethical framework for building a secure and equitable future. This emphasis on ethical considerations underscores his long-term commitment to Bitcoin’s role in reshaping the financial landscape.