Twenty One Capital posts $413.5M Q2 loss as Bitcoin falls

Tether-backed Bitcoin-focused company Twenty One Capital has reported a $413.5 million net loss for the second quarter of 2026 after Bitcoin’s decline reduced the value of its holdings. Summary Twenty One Capital lost $413.5 million during the second quarter of 2026. A $401.5 million Bitcoin valuation loss accounted for most of the quarterly deficit. CEO Raphael Zagury plans to add acquisitions, capital markets services, and Bitcoin-backed loans. The NYSE-listed company gives U.S. investors stock-based exposure to a large corporate Bitcoin reserve. Bitcoin losses have dominated Twenty One Capital’s results According to Twenty One Capital’s second-quarter financial report, a $401.5 million decline in the value of its Bitcoin holdings accounted for most of the company’s quarterly loss. Twenty One Capital’s latest loss has shown how strongly its financial statements depend on Bitcoin’s price at the end of each reporting period. Because the company holds the cryptocurrency as its main asset, changes in Bitcoin’s fair value pass through its reported earnings even when it does not sell the coins. The $401.5 million reduction tied to Bitcoin represented about 97% of the total second-quart...