Tether Executes Major BTC Purchase on Behalf of Bitcoin Investment Firm Twenty One Capital
Tether has carried out a massive Bitcoin purchase on behalf of the investment firm Twenty One Capital. On May 9, the company acquired a total of 4,812 Bitcoins worth approximately $458.7 million. Paying an average of $95,319 per BTC, Tether transferred these assets into a custodian wallet. The purchase was revealed through a filing submitted by Cantor Equity Partners to the U.S. Securities and Exchange Commission (SEC) on May 13.
Twenty One Capital is in the process of completing a SPAC merger with Cantor Equity Partners. Once finalized, the company will be publicly traded under the ticker symbol “XXI.” Including the 31,500 BTC already under Cantor’s custody, the company’s total reserves now amount to 36,312 BTC.
This move indicates that Twenty One is positioning itself as a major player not just in the present, but for the future as well. CEO Jack Mallers stated that the merger approval process is ongoing, though a specific completion date has yet to be determined. Twenty One is targeting a total of 42,000 BTC, currently making it the third-largest institutional Bitcoin holder.
A Next-Generation Institutional Strategy
Twenty One Capital aims to be a strong alternative to MicroStrategy, led by Michael Saylor. In its presentations, the company emphasizes a model focused on “Bitcoin per share” rather than traditional earnings metrics. Accumulating Bitcoin is viewed as the core strategy, marking a departure from conventional investment approaches.
The company’s shareholder structure is also noteworthy. Tether and Bitfinex are among the largest stakeholders in Twenty One, while Cantor Fitzgerald plays a significant role in financing the merger. Additionally, SoftBank has made a substantial contribution by investing $900 million in the company.
Key Highlights of Twenty One Capital:
- Tether purchased 4,812 BTC at an average price of $95,319.
- The company’s total Bitcoin holdings have reached 36,312 BTC.
- Target: Reach 42,000 BTC to become a top institutional Bitcoin investor.
- Offers a unique value proposition with a Bitcoin-per-share model.
- Will begin trading under the ticker symbol “XXI” post-SPAC merger.
With its aggressive growth strategy and strong backing, Twenty One Capital is poised to become one of the most prominent players in the institutional Bitcoin investment space in the near future.
