Twenty One Capital has added one other 4,812 Bitcoin to its treasury after a recent buy by main backer Tether forward of a deliberate Particular Function Acquisition Firm merger.
On Could 9, Tether acquired the BTC at a median worth of $95,319 per token and transferred the belongings to an escrow pockets, as revealed in a Could 13 submitting with the US Securities and Trade Fee.
The acquisition, price roughly $458.7 million, brings Twenty One Capital’s complete holdings to 36,312 BTC, inserting it simply behind Technique and MARA Holdings by way of company Bitcoin possession.
Tether is among the main stakeholders in Twenty One Capital, alongside crypto change Bitfinex and Japanese tech large SoftBank. The trio co-founded the corporate in April 2025 with a shared objective of making a Bitcoin-native public agency centered on long-term BTC accumulation and institutional entry.
As famous in a enterprise mixture settlement signed in April, Tether agreed to purchase Bitcoin equal to the anticipated proceeds from a PIPE funding and switch it into a delegated pockets to be bought to Twenty One Capital on the shut of the merger.
CEO Paolo Ardoino has beforehand stated that the stablecoin issuer views the enterprise as a long-term wager on Bitcoin’s institutional relevance and worth proposition.
“Twenty One will take a Bitcoin-first strategy that aligns with our imaginative and prescient—prioritizing accumulation over hypothesis and constructing long-term worth for many who perceive what Bitcoin represents,” Ardoino stated final month.
The merger itself is being facilitated by means of Cantor Fairness Companions, a Cayman Islands-based SPAC affiliated with Wall Road agency Cantor Fitzgerald. As soon as full, Twenty One Capital might be listed underneath the ticker “XXI” on public markets.
Cantor Fitzgerald can also be offering advisory companies and securing extra capital to help the corporate’s Bitcoin-focused technique.
Earlier filings disclosed that the corporate plans to debut with at the very least 42,000 Bitcoin in belongings. As part of the dedication, Tether will present 23,950 BTC, SoftBank 10,500 BTC, and Bitfinex round 7,000 BTC, all of which might be transformed into shares priced at $10 every.
Final month, Twenty One Capital positioned itself as a future competitor to Technique (previously MicroStrategy), stating its objective is to change into the “superior car” for capital-efficient Bitcoin publicity.
Slightly than specializing in conventional monetary metrics, the corporate stated it should prioritize “Bitcoin per share” as its key success indicator.
On the helm of this initiative is Strike founder Jack Mallers, who was appointed CEO of Twenty One Capital in April.
Recognized for his vocal help of Bitcoin and his work on Lightning-based funds, Mallers described the brand new firm as a inventory “constructed by Bitcoiners, for Bitcoiners.”
Mallers has outlined bold plans for Twenty One to roll out Bitcoin-native monetary merchandise, together with lending instruments and capital market choices.
“Our mission is straightforward: to change into essentially the most profitable firm in Bitcoin,” Mallers stated on the time.
