Source: FX168 Financial News Agency (Asia Pacific)
The largest USD stablecoin issuer in the Global$Tether (USDT.CC)$Supports$Bitcoin (BTC.CC)$Investment company Twenty One Capital has increased its Shareholding by 4,812 Bitcoins (valued at 0.4587 billion USD), currently at$Cantor Equity Partners (CEPO.US)$under its Exchange.
Twenty One Capital is waiting to complete a merger with Cantor Equity Partners through a Special Purpose Acquisition Company (SPAC).
According to documents filed by Cantor Equity Partners with the SEC on Tuesday (May 13), the company purchased Bitcoin at a price of $95,319 per coin and transferred it to a custody wallet on May 9.
This brings Twenty One's total Bitcoin holdings to 36,312 coins, of which Cantor Equity Partners holds 31,500 coins on behalf of the company, and once the SPAC merger is completed, the company will trade under the ticker symbol XXI.
Jack Mallers, CEO of Twenty One, stated that they have entered the merger approval process but did not provide a specific estimate for when the trade will be completed.
According to BitcoinTreasuries.net, Twenty One is already the third largest Bitcoin enterprise holder, following only $Strategy (MSTR.US)$ And Bitcoin mining companies.$MARA Holdings (MARA.US)$The latter two hold 568,840 Bitcoins and 48,237 Bitcoins respectively.
Tether and the cryptocurrency Exchange Bitfinex hold the majority stake in Twenty One.
Wall Street giant Cantor Fitzgerald is responsible for this merger, providing financial Consulting Services and raising $0.585 billion to support Twenty One's Bitcoin investments.
The Japanese investment holding company SoftBank also invested $0.9 billion in Twenty One, led by Strike’s CEO Jack Mallers.
In a report submitted to the SEC in April, Twenty One stated that the company is seeking to replace Michael Saylor's Strategy company (formerly MicroStrategy), becoming a superior investment tool for investors seeking "capital-efficient Bitcoin investments."
The company is one of many Bitcoin purchasing companies but promises to provide "pure investments" for investors seeking Bitcoin investments, offering a Bitcoin-native Business and greater strategic financing flexibility.
Twenty One stated that its key success indicator will be each Bitcoin rather than the traditional EPS metric, as it will prioritize purchasing Bitcoin over profits.
Twenty One's goal is to reach 42,000 Bitcoins at launch. Previous documents indicate that 23,950 Bitcoins are expected to come from Tether, 10,500 Bitcoins from SoftBank, and approximately 7,000 Bitcoins from Bitfinex, which will be converted to equity at a price of $10 per share.
Editor/Rocky
