The New York Stock Exchange displayed a bronze sculpture of Bitcoin's pseudonymous creator, Satoshi Nakamoto, on Thursday. Twenty One Capital, trading under ticker XXI, commissioned the piece as part of a broader artistic campaign spanning multiple countries.
The installation marks the sixth monument in a series of 21 planned sculptures worldwide. Artist Valentina Picozzi created the work, which NYSE representatives characterized as a bridge between traditional finance and digital currencies.
Jack Mallers serves as CEO of Twenty One Capital and founded Strike, a Lightning Network payment platform. He described the statue's placement as evidence of Bitcoin's transformation from digital code to mainstream cultural symbol.
The company's market entrance proved volatile. Shares dropped 19% during Tuesday's debut trading session, according to Bloomberg data. This decline occurred despite the firm's substantial cryptocurrency reserves.
Vandalism Strikes Swiss Installation
The global statue campaign faced setbacks earlier this year. Vandals targeted a Satoshi monument in Lugano, Switzerland, following Swiss National Day festivities in August. The perpetrators removed the bronze sculpture from Lake Lugano's waterfront.
Investigators determined the thieves used specialized industrial equipment. Evidence suggested tungsten carbide cutting disks and petrol-powered angle grinders severed the welded statue from its concrete base. Only the bronze feet remained attached.
Satoshigallery, the art collective organizing the monument series, offered a bounty for information. The group posted a 0.1 Bitcoin reward, valued near $12,000 at the time. The collective condemned the theft while pledging to continue installations.
The Lugano incident represented the first major destruction of an official Satoshi statue. Budapest launched the campaign with the inaugural monument in September 2021. Other locations include El Salvador's Bitcoin Beach and Tokyo.
Each sculpture carries symbolic meaning. Budapest's piece features a faceless hooded figure with mirrored surfaces reflecting viewers. This design embodies the "we are all Satoshi" philosophy within cryptocurrency communities.
Picozzi's "Disappearing Satoshi" concept takes a different approach. The NYSE statue depicts a seated figure working at a laptop. The sculpture appears to vanish when observers change their viewing angle. The artist expressed surprise at securing the prestigious NYSE location.
Corporate Bitcoin Holdings Face Market Pressure
Twenty One Capital controls roughly 43,500 bitcoins. Current valuations place this holding above $3.9 billion. The company ranks third globally among corporate Bitcoin holders.
The firm completed a merger with Cantor Equity Partners, a blank-check company backed by Cantor Fitzgerald. Brandon Lutnick chairs the board. His father, Howard Lutnick, currently serves as Commerce Secretary.
The merger structure included $486.5 million in senior convertible notes. Private investment transactions contributed approximately $365 million in common equity. These financial arrangements aimed to strengthen the company's balance sheet.
Market conditions challenged the debut. Shares opened at $10.74 on Tuesday, falling below the SPAC's previous $14.27 close. Digital asset treasury firms currently face scrutiny as Federal Reserve policy creates uncertainty.
The timing intersects with broader cryptocurrency market volatility. Bitcoin prices fluctuate as monetary policy decisions influence investor sentiment. At the time of writing, Bitcoin is trading at around $$90,375, representing a 2.2% decline in the last 24 hours.
BTC price chart, Source: CoinMarketCap
