Tether has purchased 4,812 BTC worth $458.7 million for Twenty One Capital, a new Bitcoin treasury company led by Jack Mallers of Strike.
The acquisition, disclosed in a May 13 SEC filing, marks the first major move in the firm’s plan to launch with 42,000 BTC ($4.4B) in reserves.
Twenty One Capital is being formed through a SPAC merger with Cantor Equity Partners and will list on Nasdaq under the ticker XXI. The venture is backed by Tether, Bitfinex, Cantor Fitzgerald, and SoftBank, with plans to raise $600M and offer Bitcoin lending and financial products.
This comes amid a wave of corporate BTC accumulation; Strategy bought 13,390 BTC ($1.34B). Metaplanet added 1,241 BTC, surpassing El Salvador’s treasury
Analysts note corporate buying is now outpacing miner production, with 2025 seeing 157,000 BTC ($16B) added to corporate treasuries, potentially making Bitcoin a deflationary asset. Twenty One Capital’s bold entry signals Bitcoin’s deepening integration into institutional finance.
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