Twenty One Capital CEO Raphael Zagury on Opportunities in Current Crypto Market

00:00 Jennifer Sanasi

CoinDesk Public Keys which broadcast right here at the New York Stock Exchange, explores the future of financial markets by looking at the intersection of digital assets, traditional finance and macroeconomics. Host Jennifer Sanasi recently spoke with Raphael Zagury, CEO of NYSE listed 21 Capital, and he spoke about opportunities across the digital asset space.

00:27 Raphael Zagury

It's important to remember that we're in a bear market of Bitcoin, right? So that brings opportunities for us, of course. So the multiples, evaluations of target companies I think are fairly attractive right now. But more important, we're looking for companies that are as I said, growing well. They need to be cash flow positive. Our model to bring these companies towards our balance sheet, it's closer to what Berkshire Hathaway looked to building companies uh around their portfolio. They're going to be independent companies. They're going to sit on their with their own balance sheets, right? with their own teams, with their own management teams. Uh with control of 21, but building towards the treasury of 21, right? So different than other treasury companies out there which what they're doing is more akin to what hedge funds will do and they will do financial engineering to buy more Bitcoin to put more Bitcoin in the balance sheet. The way we're going to enhance our Bitcoin treasury in the long run is by getting these companies to contribute to to the treasury along the way, right? And for that, of course, they need to be cash flow positive.