The post Tether buys $459M Bitcoin for Twenty One Capital appeared on BitcoinEthereumNews.com.

Stablecoin issuer Tether bought $458.7 million worth of Bitcoin for Twenty One Capital, a Bitcoin investment firm it backed that’s awaiting the completion of a Special Purpose Acquisition Company (SPAC) merger with Cantor Equity Partners. Tether snapped up 4,812.2 Bitcoin (BTC) at $95,319 each and transferred it to an escrow wallet on May 9, Cantor Equity Partners disclosed in a May 13 filing with the US Securities and Exchange Commission. It brings Twenty One’s total Bitcoin holdings to 36,312 BTC, as Cantor Equity Partners holds 31,500 BTC on behalf of the firm, which will trade under the ticker XXI once the SPAC merger is complete. Twenty One’s CEO, Jack Mallers, said on May 13 that they’re already in the approval process of the merger, but didn’t give an exact estimate on when the transaction would be complete. Twenty One is already the third largest corporate Bitcoin holder, trailing only Strategy and Bitcoin mining firm MARA Holdings at 568,840 Bitcoin and 48,237 Bitcoin, respectively, BitcoinTreasuries.net data shows. Tether is a majority stakeholder in Twenty One alongside crypto exchange Bitfinex. The Wall Street heavyweight Cantor Fitzgerald is sponsoring the merger, providing financial advisory services and securing $585 million in funding to support Twenty One’s Bitcoin investments. Japanese investment holding firm SoftBank also invested $900 million into Twenty One, which is led by Strike CEO Jack Mallers. Strategy may have a legitimate competitor Twenty One said in an April presentation to the SEC that is looking to supplant Michael Saylor’s Strategy, formerly MicroStrategy, to become the “superior vehicle” for investors seeking “capital-efficient Bitcoin exposure.” The company is among many Bitcoin buying firms, but promises to be a “pure play” for investors seeking Bitcoin exposure with Bitcoin-native operations and more flexibility for strategic capital raises.  Twenty One Capital’s comparison of its Bitcoin treasury plan…

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Filed under: News - @ May 14, 2025 4:27 pm