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BTC Jack Mulles has resigned as CEO of Capital 21 due to strategic differences with the company's leadership. He will be able to devote himself to Strike and focus on building Bitcoin trading infrastructure.
Mulles said in a video statement that he and the company's leadership no longer agree on the company's future direction. He emphasized that this is not a company used to accumulate cryptocurrencies, but a company designed to build an operational business and also has the largest bitcoin reserve in the corporate world.
"When I was involved in founding Capital 21, I thought we had a chance to build some very specific goals. Not just a company built on Bitcoin, not just a company that put Bitcoin on its balance sheet, but also a company that also owns a Bitcoin business that generates cash flow; however, over time, I gradually realized that the board and I had differences on the path to achieving this vision." Marles said.
According to Mulles, he hopes the company can create sustained cash flow through its Bitcoin native business while maintaining large reserves of Bitcoin. But over time, boards have become increasingly inclined to adopt traditional corporate financial strategies, which is to obtain Bitcoin efficiently. This strategic difference ultimately led Mulles to believe that leaving the company was the best choice for both shareholders and the company's future.
21 holds approximately 43,514 bitcoins with its capital, making it one of the largest holders of bitcoins in the world. Although disappointed with his resignation, Marles continues to support his mission of promoting Bitcoin products.
Marles returns to Strike
After leaving Capital 21, Marles devoted himself to Strike-the Bitcoin payment network he created before founding Capital 21. Strike is continuing to develop in the field of financial services through lightning online payment services, cross-border transactions, treasury management solutions, etc. As Marles said, using Bitcoin to create financial instruments useful to individuals and businesses is his main goal.
This means that after leaving Capital 21, Mulles will once again focus on software development rather than managing a publicly traded Bitcoin reserve company.
