Twenty One Capital, Inc. filed a Form 8-K to furnish a shareholder letter from newly appointed CEO Raphael Zagury dated August 11, 2026. The letter outlines a strategic pivot from being solely a Bitcoin treasury to becoming a diversified Bitcoin-native operating company modeled after Berkshire Hathaway. Key priorities include strengthening corporate governance with new independent directors Paul Lalljie and Karl Olsoni, building or acquiring operating businesses, developing capital markets capabilities, pursuing mergers and acquisitions, and establishing a conservative lending and credit business. Zagury acknowledged the stock trades at a discount to Bitcoin holdings and confirmed that searches for key operating roles are underway. The company operates in the financial services and digital asset management industry.
