SoftBank is making a major move in the cryptocurrency sector by joining forces with Tether, Bitfinex, and Cantor Fitzgerald to form a new Bitcoin-focused joint venture named 21 Capital.
The venture will be seeded with $3 billion worth of Bitcoin (BTC) and is expected to go public through a SPAC (Special Purpose Acquisition Company) listing.
Tether Leads Contributions, SoftBank Buys Bitcoin at $85K
As part of the deal, Tether will contribute $1.5 billion—the largest share of the seed capital—while SoftBank is committing $900 million to buy Bitcoin at a valuation of $85,000 per BTC. This bold investment signals Masayoshi Son’s biggest Bitcoin bet to date, according to VanEck’s Matthew Sigel.
“It seems to me that Masa’s looking to build a Bitcoin-AI-energy flywheel,” Sigel commented, referencing a potential strategy to leverage crypto, artificial intelligence, and sustainable energy in a unified ecosystem.
A Strategic Pivot into Bitcoin Infrastructure
The partnership with crypto giants Bitfinex and Tether, both of which are owned by the same parent company (iFinex), suggests that 21 Capital may aim to become a leading player in BTC liquidity, infrastructure, and energy-related blockchain ventures.
The SPAC route will allow the new entity to access public market capital while leveraging the reputations and balance sheets of its founding firms. While details on its business model remain scarce, the size and makeup of the launch suggest ambitions well beyond passive Bitcoin holdings.
Not SoftBank’s First Crypto Bet
This isn’t SoftBank’s first step into the crypto mining and infrastructure space. Earlier in 2025, the Japanese tech conglomerate invested $50 million in Cipher Mining, acquiring a 3% stake (10.4 million shares) in the U.S.-based Bitcoin mining firm.
Now, with 21 Capital, SoftBank appears to be taking a much larger, more strategic position in the digital asset economy.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/softbank-teams-up-with-tether-bitfinex-and-cantor-to-launch-3b-bitcoin-venture/