Catenaa, Sunday, May 19, 2025-Twenty One Capital, the bitcoin investment firm backed by Cantor Fitzgerald, Tether, and SoftBank, has made a significant purchase of 4,812 BTC worth $458.7 million.
This acquisition is part of an ongoing strategy by the firm to expand its bitcoin holdings, with plans for more acquisitions in the future. The purchase follows the company’s incorporation and a securities filing that revealed Tether was involved in the deal.
The transaction, known as an “Initial PIPE Bitcoin,” was part of a larger private investment in public equity (PIPE) transaction.
Tether, the issuer of the popular stablecoin, purchased the bitcoin and transferred it to a wallet under its control. Following the business combination’s closure, Tether is expected to sell the bitcoin to Twenty One Capital for the same amount, $458.7 million.
With the purchase, Twenty One Capital now boasts a $3.6 billion bitcoin treasury, solidifying its place as the third-largest holder of bitcoin among publicly traded companies.
Twenty One Capital would be led by Jack Mallers the founder of Strike. And Strike also operates with backing from Tether and Bitfinex-its sister company.
SoftBank holds a minority stake in the firm.
Similar to the approach taken by MicroStrategy’s Michael Saylor, Twenty One Capital aims to position itself as a key player in the digital currency space.
