twenty one capital quietly accumulated 43,500 btc, more supply getting locked away from retail

just saw this bloomberg report about twenty one capital and honestly this is way bigger than people are talking about. they launched in april saying they'd accumulate bitcoin, but turns out they've been way more aggressive than anyone realized.

they now hold 43,500 btc (worth around $5.1 billion), which is 1,500 more than they originally projected. tether just dumped another 5,800 btc into their treasury on top of the 37,229 btc they got back in june

here's what's actually happening: we're watching the final stages of bitcoin's transition from retail speculation to institutional reserve asset. twenty one capital is backed by cantor fitzgerald, softbank, tether, and bitfinex, these aren't crypto bros making leveraged bets. they're building permanent bitcoin treasuries.

the supply math is getting brutal for anyone trying to accumulate:

microstrategy: 607,000 btc

mara holdings: 50,000 btc

twenty one capital: 43,500 btc (and growing)

riot, cleanspark, hut 8: thousands more each

that's over 700,000 btc locked in corporate treasuries that basically never gets sold. with only 21 million btc total and probably 4-5 million lost forever, we're looking at maybe 15 million actually circulating. these institutions are hoovering up 5% of the entire supply.

what makes twenty one different is they're not using debt like saylor. they raised cash from backers and bought spot btc directly. no liquidation risk, no forced selling during crashes. pure diamond hands backed by billions in traditional finance money.

jack mallers (strike ceo) is running this thing and they're going public through a spac merger. once that happens, pension funds and index funds will start buying their stock, which gives them more capital to buy more btc. it's a feedback loop that keeps removing supply.

the writing is on the wall retail is getting priced out of meaningful btc accumulation. when companies can casually drop $5 billion on btc without breaking a sweat, your $100 weekly dca isn't moving the needle anymore.

this isn't even including the etfs pulling in billions every week. blackrock's etf alone holds over $40 billion in btc.

we're in the final phase where institutions are quietly absorbing all available supply while retail still thinks this is about trading and technical analysis. by the time normies wake up to what's happening, obtaining whole bitcoins will be completely out of reach for regular people.

twenty one capital adding 1,500 more btc than planned should be headline news. that's $180 million worth of supply that just vanished from circulation forever. multiply this across dozens of other institutions doing the same thing and you realize the supply shock hasn't even started yet.

anyone else seeing how this plays out? feels like we're watching the last bitcoin getting locked away in corporate vaults while everyone's distracted by price charts.