Tether-backed investment firm Twenty One Capital has acquired 4,812 BTC worth $458.7 million, according to a recent SEC filing. This major buy is part of a private investment in public equity (PIPE) deal linked to its ongoing SPAC merger with Cantor Equity Partners.
According to the filing, Tether transferred the BTC to an escrow wallet on May 9, which was later moved to its own wallet before being handed over to Twenty One Capital. The firm plans to go public under the ticker “XXI” once the merger finalizes. Currently, it trades under “CEP” and is backed by Wall Street giant Cantor Fitzgerald.
The latest purchase brings Twenty One Capital’s total Bitcoin holdings to 36,312 BTC. Of that, 31,500 BTC is held in custody by Cantor. The company aims to hit 42,000 BTC before its public launch, with more contributions expected from Tether, SoftBank, and Bitfinex.
Led by Jack Mallers, founder of Strike, Twenty One Capital follows a Bitcoin-focused approach similar to MicroStrategy’s. Tether and Bitfinex own the majority stake, while SoftBank has invested $900 million.
Market reactions were quick—CEP shares surged 5.2% in after-hours trading. The firm now ranks as the third-largest corporate BTC holder, behind only MicroStrategy and MARA.
This big buy comes as Bitcoin trades near $103,540, approaching its all-time high. Analysts say lower inflation and a growing money supply could help BTC break $120,000 by the end of May.
Twenty One Capital’s move signals growing confidence in Bitcoin’s future.
Also Read: Rumble Partners with Tether to Launch Bitcoin Wallet in Q3
