Breaking news as Tether Buys $459 Million in Bitcoin to Back New Nasdaq-Listed Company
Stablecoin issuer Tether has purchased nearly half a billion dollars worth of Bitcoin as part of plans to launch a new publicly traded Bitcoin firm, Twenty One, through a high-profile merger.
In a filing submitted to the U.S. Securities and Exchange Commission (SEC) on Tuesday, Cantor Equity Partners disclosed that Tether acquired 4,812.22 BTC for a total of $458.7 million.
The purchase was made at an average price of $95,319.83 per Bitcoin.
The cryptocurrency will be transferred to Twenty One, a planned Bitcoin treasury company, once its merger with Cantor Equity Partners is finalized.
The move positions Twenty One to enter the public markets with a substantial Bitcoin reserve.
A Strategic Play for the Bitcoin Treasury Market
Twenty One is the product of a collaboration between several financial heavyweights, including Tether, crypto exchange Bitfinex, investment firm Cantor Fitzgerald, and Japan’s SoftBank Group.
Announced in April, the company is set to debut on the Nasdaq via a Special Purpose Acquisition Company (SPAC) merger.
Upon launch, it will reportedly hold over 42,000 BTC worth around $4.4 billion at current market rates.
This aggressive Bitcoin accumulation strategy signals the group’s confidence in the long-term value of the cryptocurrency, particularly amid signs of renewed market strength.
Bitcoin Nears Record Highs Amid Global Market Easing
Tether’s latest Bitcoin buy comes at a pivotal moment for the crypto market. On Tuesday, Bitcoin’s price rebounded above $104,000 approaching within 4% of its all-time high of $108,786 following news that the United States and China would ease several tariffs that had weighed on global markets in recent weeks.
The rally is part of a broader trend of institutional interest in Bitcoin. Publicly traded firms like Michael Saylor’s Strategy, which holds nearly $60 billion worth of Bitcoin, along with companies like Marathon Digital, Metaplanet, and Semler Scientific, have adopted Bitcoin treasury strategies to hedge against inflation and market volatility.
Twenty One’s Financial Ambitions and Leadership
In addition to amassing Bitcoin, Twenty One plans to offer Bitcoin lending services and other financial products tailored to the digital asset economy.
The company will be majority-owned by Tether and Bitfinex, while SoftBank will maintain a minority stake.
At the helm will be incoming CEO Jack Mallers, the founder of Bitcoin payments firm Strike. Under his leadership, Twenty One aims to raise approximately $600 million including $385 million through the sale of convertible senior notes and $200 million via private equity investments.
The proceeds will be used to fund further Bitcoin purchases and support the company’s corporate operations.
Twenty One plans to list its shares under the ticker symbol XXI once the merger is finalized.
Tether’s Expanding Crypto Empire
The substantial Bitcoin acquisition follows a strong first quarter for Tether, which recently reported over $1 billion in revenue.
The company continues to expand its footprint beyond stablecoins, investing in digital asset infrastructure and financial services.
With Twenty One, Tether is positioning itself at the forefront of Bitcoin treasury management a space that’s gaining momentum as more firms seek to diversify reserves into digital assets.
