Catenaa, Thursday, May 15, 2025-Bitcoin investment firm Twenty One Capital, backed by Tether, Cantor Fitzgerald and SoftBank, has purchased $458.7 million worth of bitcoin, according to a securities filing released Tuesday, marking its first major buy under a public equity structure.
The acquisition involved 4,812 BTC and was facilitated shortly after the company’s formation via a SPAC merger with Cantor Equity Partners. The purchase was part of a private investment in public equity (PIPE) arrangement, with proceeds from convertible note subscriptions used to fund the deal. Tether initially acquired the bitcoin, later transferring it to the public company upon closing.
Following the launch, Twenty One Capital, operating under the ticker symbol CEP, becomes the third-largest bitcoin holder among publicly listed companies, with \$3.6 billion in bitcoin already on its balance sheet.
Led by Strike founder Jack Mallers, the company has adopted a bitcoin-centric strategy similar to that of MicroStrategy, the Michael Saylor-led firm that pioneered BTC as a treasury asset.
Tether and its sister exchange Bitfinex own majority of the entity. Japanese investment giant SoftBank holds a minority stake.
Analysts say the filing highlights the increasing institutional embrace of bitcoin-backed financial products. Mallers has said the firm intends to continue adding to its BTC holdings over time.
This deal is considered a strategic move to further institutionalize bitcoin investments, reflecting growing confidence in BTC as a store of value and treasury reserve.
