Cantor to Replicate Strategy’s Bitcoin Policy in New $3 Billion Crypto Push ⋆ ZyCrypto
The post Cantor to Replicate Strategy’s Bitcoin Policy in New $3 Billion Crypto Push ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Cantor Fitzgerald, one of Wall Street’s oldest investment firms, is set to make a major move in the cryptocurrency space by launching a new $3 billion Bitcoin-focused venture that aims to mirror that of Bitcoin development firm Strategy (formerly Microstrategy) According to a Wednesday report by the Financial Times, the venture, called 21 Capital, is being led by Brandon Lutnick, the newly appointed chairman of Cantor Fitzgerald and son of U.S. Commerce Secretary Howard Lutnick. Notably, 21 Capital will be funded through a consortium of prominent backers, including Tether, SoftBank, and Bitfinex. These investors are expected to contribute their stakes entirely in Bitcoin rather than fiat currency. This decision underscores the group’s long-term conviction in Bitcoin as a strategic treasury asset. As per the report, Tether, the issuer of the world’s largest stablecoin, will contribute $1.5 billion worth of Bitcoin, while Japanese investment giant SoftBank will inject $900 million, and crypto exchange Bitfinex will add $600 million, bringing their total contributions to $3 billion in BTC. These assets will eventually be converted into shares of 21 Capital at a rate of $85,000 per Bitcoin and $10 per share. Notably, Cantor Equity Partners, the investment arm overseeing the new initiative, previously raised $200 million in January to lay the groundwork for 21 Capital. Additional funding is being pursued through a $350 million convertible bond issuance and a $200 million private equity placement. The aim is to leverage this capital to accumulate even more Bitcoin in anticipation of rising institutional demand. Advertisement   That said, the venture’s strategic direction mirrors that of Michael Saylor’s Strategy, which made headlines in 2020 by adopting Bitcoin as its primary reserve asset. As of April 23, Strategy held approximately 531,644 bitcoins, valued at just over $44 billion at current market prices. With 21…
Filed under: News - @ April 23, 2025 11:23 am