In a significant move ahead of its public listing, Twenty One Capital has added 4,812 Bitcoin to its treasury, courtesy of a fresh purchase by Tether. The acquisition, made on May 9, was revealed in a May 13 filing with the U.S. Securities and Exchange Commission. At an average purchase price of $95,319 per Bitcoin, the acquisition is valued at approximately $458.7 million.
This latest addition brings Twenty One Capital’s total Bitcoin holdings to 36,312 BTC, positioning the company just behind Strategy and MARA Holdings in the corporate Bitcoin ownership ranks. Tether, a key backer of the firm, is joined by crypto exchange Bitfinex and Japanese tech giant SoftBank, all of whom co-founded Twenty One Capital in April 2025. Their shared vision centers around creating a Bitcoin-native public entity focused on long-term Bitcoin accumulation and providing institutional access to the cryptocurrency market.
Under a business combination agreement signed earlier in April, Tether agreed to purchase Bitcoin equivalent to the proceeds from a private investment in public equity (PIPE) deal. These assets will be transferred into a designated wallet and sold to Twenty One Capital following the merger’s completion.
CEO Paolo Ardoino, who is also the CEO of Tether, has previously articulated the firm’s long-term commitment to Bitcoin, emphasizing that Twenty One Capital is designed to prioritize Bitcoin accumulation over speculation. “We’re building long-term value for those who understand what Bitcoin represents,” Ardoino stated.
The merger, being facilitated through Cantor Equity Partners, a SPAC affiliated with Wall Street firm Cantor Fitzgerald, is set to see Twenty One Capital listed on public markets under the ticker symbol “XXI.” Cantor Fitzgerald is also aiding the company in securing additional capital to support its Bitcoin-focused strategy.
As part of the commitment, Tether, SoftBank, and Bitfinex are contributing a combined total of 42,000 BTC to the company’s assets. The BTC will be converted into shares, priced at $10 each. Notably, Twenty One Capital aims to become a leading capital-efficient Bitcoin exposure vehicle, positioning itself as a competitor to firms like Strategy (formerly MicroStrategy).
Twenty One Capital’s approach will diverge from traditional financial metrics, opting instead to focus on “Bitcoin per share” as its primary indicator of success. The company’s new CEO, Jack Mallers—known for his vocal Bitcoin advocacy and his work on Lightning Network payments—has ambitious plans for the company, including the launch of Bitcoin-native financial products such as lending tools and capital market offerings.
Related topics:
Cardano Price Approaches $1 After Breaking Critical Resistance Level
Cardano Founder Teases Free NFT-Based Transactions in Midnight Upgrade
Dogwifhat Price Prediction: Solana’s WIF Memecoin Poised for $1.5 Surge This Week?
