Twenty One Capital’s $1 billion Bitcoin profit shrinks as 60% vanishes

Twenty One Capital reported a $1.087 billion third-quarter profit driven entirely by Bitcoin's rise in value, but roughly 60% of that gain has already evaporated as BTC fell after the quarter closed on Sept. 30. The Texas firm's coins are now worth about $700 million less than it paid. Traders should note this as a concrete example of how quickly leveraged Bitcoin treasury gains can reverse, a cautionary signal for firms holding BTC on balance sheet.