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The purchase, revealed in a U.S. SEC filing, involved 4,812 BTC at an average price of $95,319 each—now held in escrow as the company gears up for a public debut.
The firm, which is planning a SPAC merger with Cantor Equity Partners, now holds over 36,000 BTC, making it the third-largest corporate Bitcoin holder globally. The transaction boosts Twenty One’s push to become a dominant player in the digital asset space, trailing only Strategy and MARA Holdings in terms of BTC reserves.
Backed by heavyweights like Bitfinex and SoftBank, and led by Strike CEO Jack Mallers, the company aims to be a streamlined, crypto-native alternative for investors seeking direct Bitcoin exposure. Unlike traditional firms, it has pledged to focus on maximizing Bitcoin per share, not earnings, as its core performance metric.
Tether, a majority stakeholder, has played a critical role, with Cantor Fitzgerald securing over half a billion dollars in support. According to filings, the firm is targeting a launch supply of 42,000 BTC—sourced from Tether, SoftBank, and Bitfinex—converted into equity as part of its listing strategy.
While no firm launch date is confirmed, shares in Cantor’s SPAC surged earlier this month and remain elevated, reflecting market optimism around the firm’s future.
The post Tether-Backed Firm Ramps Up Bitcoin Holdings Ahead of Public Listing appeared first on Coindoo.
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