Tether Holdings SA, Cantor Fitzgerald and SoftBank Group have partnered to establish a new firm. They are pleased to announce the launch of Twenty One Capital, a fund dedicated to investing in Bitcoin. So far, the venture is on track to be one of the biggest public holders of the cryptocurrency.
The combined company—dubbed the “new XXI”—will immediately be listed on the Nasdaq under the ticker symbol “XXI” after closing the transaction. This move represents a watershed moment in providing Bitcoin investment alternatives to the broader public market.
Tether Holdings SA will provide Twenty One Capital with the seed capital of $1.6 billion in Bitcoin. Also contributing will be Bitfinex, an exchange affiliated with Tether, which will add $600 million. SoftBank Group will contribute $900 million.
Twenty One Capital merged with Cantor Equity Partners, a SPAC. Cantor Equity Partners will keep its “CEP” NASDAQ ticker symbol until the deal closes. Real estate firm Cantor Fitzgerald, under the leadership of Brandon Lutnick, is another major player in this venture. The firm focuses on financial and real estate services. Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick.
Jack Mallers, CEO of Strike, will take Twenty One Capital forward as co-founder and CEO. We believe his leadership will provide out-of-the-box thinking to inform the company’s investment approaches and strategies.
"We're not here to beat the market, we're here to build a new one. A public stock, built by bitcoiners, for bitcoiners." - Jack Mallers
Twenty One Capital will be sharing its performance in Bitcoin per share (BPS) and Bitcoin return rate (BRR). This cutting-edge approach to reporting was created for the fast-moving world of crypto. The company’s strategy has seen them accumulate nearly $45 billion dollars in Bitcoin.
