Tether buys $459M Bitcoin for Twenty One Capital
Tether purchased $458.7 million worth of Bitcoin, acquiring 4,812.2 BTC at $95,319 each for Twenty One Capital, a Bitcoin investment firm awaiting a SPAC merger with Cantor Equity Partners. This acquisition increased Twenty One's total Bitcoin holdings to 36,312 BTC. Cantor Equity Partners holds 31,500 BTC for the firm, which will trade under ticker XXI post-merger. CEO Jack Mallers confirmed the merger approval process is underway but did not specify a completion date. Twenty One is now the third largest corporate Bitcoin holder, following Strategy and MARA Holdings. Tether and Bitfinex are majority stakeholders in Twenty One, which received $900 million from SoftBank. The firm aims to surpass Strategy as the leading vehicle for capital-efficient Bitcoin exposure, focusing on Bitcoin per share as its success metric. Twenty One plans to reach 42,000 BTC by launch, with contributions from Tether, SoftBank, and Bitfinex. Cantor Equity Partners' share price fluctuated significantly following the purchase.
