Twenty One Capital, a rising Bitcoin-focused investment firm backed by Tether, has quietly vaulted into the top ranks of corporate BTC holders with a new $459 million acquisition.
The purchase, revealed in a U.S. SEC filing, involved 4,812 BTC at an average price of $95,319 each—now held in escrow as the company gears up for a public debut.
The firm, which is planning a SPAC merger with Cantor Equity Partners, now holds over 36,000 BTC, making it the third-largest corporate Bitcoin holder globally. The transaction boosts Twenty One’s push to become a dominant player in the digital asset space, trailing only Strategy and MARA Holdings in terms of BTC reserves.
Backed by heavyweights like Bitfinex and SoftBank, and led by Strike CEO Jack Mallers, the company aims to be a streamlined, crypto-native alternative for investors seeking direct Bitcoin exposure. Unlike traditional firms, it has pledged to focus on maximizing Bitcoin per share, not earnings, as its core performance metric.
Tether, a majority stakeholder, has played a critical role, with Cantor Fitzgerald securing over half a billion dollars in support. According to filings, the firm is targeting a launch supply of 42,000 BTC—sourced from Tether, SoftBank, and Bitfinex—converted into equity as part of its listing strategy.
While no firm launch date is confirmed, shares in Cantor’s SPAC surged earlier this month and remain elevated, reflecting market optimism around the firm’s future.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/tether-backed-firm-ramps-up-bitcoin-holdings-ahead-of-public-listing/