You Simply Won’t Believe Who Just Bought Nearly 5,000 Bitcoin

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  • Tether, armed with $459 million—and presumably a monocle—swoops up 4,812 Bitcoin to pop some champagne at Twenty One Capital. 🥂
  • Twenty One Capital waltzes down the aisle with Cantor Equity Partners in a SPAC marriage—no prenup mentioned. 💍
  • The new firm’s grand entrance: plans to clutch 42,000 Bitcoin at launch, aiming for the spotlight of global rankings. (Nobody mention crypto winters, please.) 🎩

Tether—the bustling epicenter for USDT and delightful controversy alike—has done what every daring social climber dreams of: spending $458.7 million to acquire 4,812 Bitcoin on May 9, 2025. If you’re wondering, that averages $95,319.83 per Bitcoin, and yes, I checked the math—no abacus required.

Twenty One Capital, flushed with its new digital riches, is stepping forward like the bashful debutante at her first ball—except with more SEC filings and fewer polite curtsies. This comes right as they promise eternal partnership (or at least a really interesting Q2) with Cantor Equity Partners, your friendly neighborhood SPAC. 🍸

For now, our newly purchased Bitcoin stars are sitting in their gilded wallet, awaiting the PIPE financing to tie the knot. Should Tether behave (and honestly, does it ever?), the assets will be whisked over to Twenty One Capital faster than a scandal sweeps Mayfair, per the latest ballroom whisperings at the SEC.

Strategic Merger and Financial Structure

Twenty One Capital’s coming-out party involves a merger with Cantor Equity Partners, led by the dashing Brandon Lutnick. The dance card reads: a princely $385 million in convertible senior secured notes and $200 million in common equity—enough to make even the Rothschilds blink. They’re also eyeing another $100 million through convertible notes within a month, in case anyone forgot their wallet at coat check.

Once listed, the company eyes a dizzying tally: 42,000 Bitcoin in its pocket, aiming to give Michael Saylor a mild case of indigestion. According to Bitcoin Treasuries, that lands them as the 17th largest princeling in the corporate Bitcoin court, and fifth among private companies. All this under the befitting Nasdaq ticker “XXI”—because nothing says nouveau riche like a Roman numeral.

Naturally, there’s the obligatory cast of supporting characters: Tether, Bitfinex, and SoftBank Group. Tether and its mysterious sibling iFinex pull the most strings, while SoftBank holds a “sizable minority”—though not sizable enough for the best seats at Ascot. Jack Mallers is CEO, because every good script needs a leading man.

Institutional Push for Bitcoin Adoption

Twenty One Capital is determined to unite stodgy old finance with the wild, unhinged world of crypto—think Downton Abbey meets Fyre Festival. Their pitch: Bitcoin-native services for institutions keen on dipping their toes into crypto, offering the thrill of exposure without the horror of direct exchange participation (or, let’s be honest, greasy crypto subreddits).

What’s Tether up to, you wonder? Apparently they’re making it glaringly obvious how much they want to hobnob with the Bitcoin set, leveraging this deal to give traditional investors a cinematic shot at the BTC limelight. Of course, as with any soirée of this size, the question of regulatory gate-crashers and transparency are vaguely wafting in from the smoking lounge—especially considering Tether’s reputation and the public Bitcoin treasury’s labyrinthine back corridors. 🕵️‍♂️

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2025-05-15 06:04