Jack Mallers’ Twenty One Capital And Tether Bought 4,812 Bitcoin For $458,700,000

Cantor Equity Partners, Inc. made headlines today with a significant announcement in a filing with the SEC. The company revealed that Tether, a well-known cryptocurrency stablecoin, had purchased 4,812.2 Bitcoin on behalf of Jack Mallers’ newly launched Bitcoin treasury company, Twenty One Capital. This purchase totaled a staggering $458.7 million and marked a strategic move towards eventually taking Twenty One Capital public under the ticker $XXI.

According to the filing, Tether committed to purchasing the specified amount of Bitcoin within ten business days as part of a Business Combination Agreement. The purchased Bitcoin is currently being held in a digital wallet operated by or on behalf of Tether. This move towards transparency is reminiscent of other companies in the industry, such as Bitwise and Metaplanet, who have made their holdings publicly accessible.

Interested parties can view the holdings in the digital wallet online, further showcasing the transparency of the transaction. The filing also mentioned a Convertible Notes PIPE entered into by Pubco and the Company with certain investors, adding to the complexity of the deal.

With Cantor Equity Partners Inc. trading under the ticker CEP and actively working towards finalizing its merger with Twenty One Capital, excitement is building in the markets. CEO Jack Mallers has been vocal about the company’s aggressive Bitcoin acquisition strategy, emphasizing a commitment to ensuring shareholders benefit from the increasing value of Bitcoin.

At the launch, Twenty One Capital is expected to hold over 42,000 Bitcoin, solidifying its position as one of the largest corporate holders of BTC globally. This move places them in the ranks of industry giants like Strategy, further cementing their position in the market.

In a recent interview, Jack Mallers outlined Twenty One Capital’s mission to be a premier vehicle for capital markets to engage with Bitcoin. By building on top of Bitcoin, the company aims to establish itself as a core player in the industry. With a focus on Bitcoin at its core, Twenty One Capital is set to make waves in the cryptocurrency space.

Overall, the strategic move by Tether to purchase Bitcoin on behalf of Twenty One Capital signals a significant step towards the company’s future growth and potential public listing. As the cryptocurrency market continues to evolve, partnerships and acquisitions like this will undoubtedly shape the landscape of the industry.