In a major step bolstering institutional confidence in Bitcoin, Tether, the issuer of the globe’s largest stablecoin USDT, has purchased 4,812.2 Bitcoin with a value of about $459 million. This strategic acquisition aims to strengthen the treasury of Twenty One Capital, a Bitcoin investment company set to become public by merging with Cantor Fitzgerald’s Cantor Equity Partners via a SPAC deal.
The deal puts Tether among the top corporate Bitcoin holders and indicates its faith in Bitcoin as a long-term value holder. It also indicates the growing adoption of Bitcoin within institutional treasury systems.
Twenty One Capital: A New Force in Institutional Bitcoin Strategy
Twenty One Capital is becoming a significant force in the Bitcoin investment market. The company is a joint effort supported by Tether, Bitfinex, SoftBank, and Cantor Fitzgerald. Upon the completion of the SPAC merger, the company will be listed publicly with the ticker symbol “XXI.” Its aggressive mission is to own more than 42,000 BTC, approximately valued at $4.4 billion, positioning it among the largest institutional Bitcoin treasuries in the world.
The head of the initiative is Jack Mallers, Strike CEO, famous for promoting payment infrastructure based on Bitcoin. With his guidance, the company will provide services including institutional lending against Bitcoin and other digital asset financial solutions aimed at enticing big-folio investors looking for security and inflation-proofing opportunities.
Strategic Funding and Market Implications
The merger and capital increase attract an estimated $585 million in capital — $385 million in convertible senior secured notes and $200 million in common equity financing. These resources will be used to speed the firm’s Bitcoin buying plan and scale its financial products.
Tether’s entry lends gravity to the enterprise, both institutionally as well as in terms of capital. The stablecoin behemoth has already signaled its focus on diversifying reserves and developing a greater presence within the digital asset space. This transaction is consistent with Tether’s overall strategy of bringing blockchain-based assets into the mainstream of traditional finance.
Don't miss this brand new conversation with @jackmallers on Strike's new lending product (and Jack's commitment to no rehypothecation), the full scoop on Twenty One Capital, Bitcoin corporate treasuries following $MSTR, and the emerging world monetary order reset.
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Tether’s purchase of $459 million worth of Bitcoin for Twenty One Capital is not just a treasury action, it’s a signal of increased faith in Bitcoin as a pillar of finance. In anticipation of its public listing, Twenty One’s assertive Bitcoin approach and support from large financial institutions may shape the way digital assets are viewed in institutional portfolios globally.
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