**Tether Acquires 4,812 Bitcoin for Twenty One Capital in Major Deal**
Tether has made a significant investment by purchasing 4,812.2 Bitcoin for $458.7 million on behalf of Jack Mallers’ newly established Bitcoin treasury firm, Twenty One Capital. This acquisition was disclosed in a recent filing with the SEC by Cantor Equity Partners, Inc., which is preparing for a public listing under the ticker $XXI.
According to the filing, Tether committed to acquiring Bitcoin equivalent to the total purchase price of $458.7 million within ten business days, as part of a Business Combination Agreement. The Bitcoin will be stored in a digital wallet managed by Tether, ensuring transparency similar to that of other public corporations and Bitcoin ETF issuers.
The filing also noted that the initial Bitcoin acquired will be sold to Pubco at the conclusion of the transactions outlined in the Business Combination Agreement, contingent upon the funding of PIPE Investments by investors.
Cantor Equity Partners Inc., currently trading under the ticker CEP, is actively working towards finalizing its merger with Twenty One Capital. CEO Jack Mallers has emphasized the company’s aggressive strategy for Bitcoin acquisition, stating their intent to raise substantial capital to enhance their Bitcoin holdings. Mallers expressed a commitment to ensuring that shareholders benefit in Bitcoin terms, aiming to maintain a positive Bitcoin per share value.
Upon its launch, Twenty One Capital is set to hold over 42,000 Bitcoin, positioning it as one of the largest corporate holders of Bitcoin globally, trailing only behind major industry players. Mallers articulated the mission of Twenty One Capital, stating, “We want to be the ultimate vehicle for the capital markets to participate in Bitcoin… building on top of Bitcoin. So we are a Bitcoin business at our core.”
In summary, Tether’s acquisition of Bitcoin for Twenty One Capital marks a significant step in the evolving landscape of corporate Bitcoin investments, with implications for both the market and potential investors.
**FAQ**
**What is Twenty One Capital’s mission?**
Twenty One Capital aims to serve as a primary vehicle for capital markets to engage with Bitcoin, focusing on building a business centered around Bitcoin investments.
