Get in on the Bitcoin Craze with Twenty One Capital!
Tether Purchases $459 Million in Bitcoin to Establish a New Bitcoin Treasury Corporation
Dive into the world of digital gold with Twenty One, a new Bitcoin powerhouse headed for a Nasdaq debut via a planned SPAC merger with Cantor Equity Partners. Already sitting on a hefty $459 mil in Bitcoin thanks to Tether, this public company is primed to shake up the cryptocurrency scene.
Looking at Tuesday's SEC filing, Tether - one of the collaborators shaping Twenty One - bought 4,812.22 Bitcoin for an average price of $95,319.83 a pop. That's a whopping $458.7 million in crypto assets! Once the merger's complete, these Bitcoins will be sold to Twenty One at the same price.
Twenty One is no one-hit wonder. Investors behind the company, including Tether, Bitfinex, Cantor Fitzgerald, and SoftBank Group, have big plans: launching with over 42,000 Bitcoin, valued at nearly $4.4 billion (current prices), ain't no small feat. The deal was announced back in April.
Bitcoin got a boost on Tuesday, with the token breaking $104K, just $4K shy of its all-time high, following news that the US and China would ease tariffs. It seems Bitcoin's resilience is attracting more companies to stash Bitcoin reserves, with Michael Saylor's company tallying nearly $60 billion, while others like Semler Scientific, Metaplanet, and Marathon Digital are adopting similar strategies.
Tether, the stablecoin giant, made this Bitcoin buy just a short while ago, after reporting over $1 billion in quarterly revenue. Besides holding Bitcoin, Twenty One has plans to offer Bitcoin lending services and other financial products. Tether and Bitfinex will hold 80% of the company, with SoftBank taking on a minority stake.
Under the command of CEO Jack Mallers, Twenty One is aiming to raise close to $600 million through the sale of convertible senior notes and private-equity investments. The funds will be used for more Bitcoin acquisitions and general operations. Keep your eyes peeled for the ticker symbol XXI, once the merger is official and shares hit the Nasdaq.
Editor's note: This story was updated after publication with additional details.
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- Twenty One, a new Bitcoin-focused company set for a Nasdaq debut via a SPAC merger with Cantor Equity Partners, already holds $459 million worth of Bitcoin, thanks to Tether's recent purchase of 4,812.22 Bitcoin at an average price of $95,319.83 each.
- Beyond its Bitcoin holdings, Twenty One aims to offer Bitcoin lending services and other financial products, with Tether and Bitfinex holding 80% of the company, while SoftBank takes a minority stake.
- Bitcoin's price rose to $104K on Tuesday, just $4K shy of its all-time high, with companies like Twenty One stashing Bitcoin reserves, following in the footsteps of Michael Saylor's company, which holds nearly $60 billion in Bitcoin.
- Investors behind Twenty One, including Tether, Bitfinex, Cantor Fitzgerald, and SoftBank Group, plan to launch the company with over 42,000 Bitcoin, valued at nearly $4.4 billion (current prices).
- The funds raised by Twenty One through the sale of convertible senior notes and private-equity investments, estimated to be close to $600 million, will be used for additional Bitcoin acquisitions and general operations.
