The notorious Cantor Fitzgerald, that financial titan with more ambition than sense, is about to launch a colossal $3 billion Bitcoin acquisition vehicle. Yes, you heard that right—$3 billion. And who’s backing this monstrous venture? Oh, just a little crew of industry giants like SoftBank, Bitfinex, and Tether. Nothing too dramatic, right? 🙄
The Bitcoin Odyssey: Cantor’s $3 Billion Adventure
According to the ever-credible Financial Times (because we all know they never get anything wrong, right?), Cantor Fitzgerald is pooling its vast resources to launch a Bitcoin SPAC that will likely either make or break them. The cavalry? SoftBank, Bitfinex, and Tether—three entities that are not exactly known for playing small. SoftBank’s slinging a $900 million capital injection into the mix, Bitfinex chimes in with $600 million, and, oh, Tether just casually throws $1.5 billion worth of Bitcoin into the pot. No biggie. 🤡
SoftBank, following its recent Bitcoin investments through its Metaplanet arm in Tokyo (because why not?), has decided to dip its toes into the crypto pool. Who could blame them? The water’s so refreshing… unless it’s a bubble. But let’s not dwell on that for now.
Altogether, these big players will prop up Cantor with a grand total of $3 billion to fuel its Bitcoin acquisition plans. The venture will be navigated by Cantor Equities Partners, which, in a moment of sheer originality, will create a new corporate entity named 21 Capital. Because nothing screams innovation like a new name for an old game. 🙃
And who will be steering this ship, you ask? Why, none other than Brandon Lutnick, son of the esteemed Howard Lutnick, the chairman of Cantor Fitzgerald. So yes, there’s some serious nepotism at play here. At least it’s all in the family, right?
In the past, Cantor Fitzgerald already dipped its toes into Bitcoin with a modest $2 billion financing venture, which included Anchorage as its trusted custodial partner. And don’t forget, Cantor manages Tether’s reserves, so naturally, this new venture comes with a special nod to the stablecoin issuer, which seems keen on investing in Bitcoin too. Coincidence? Probably not. 😏
MicroStrategy 2.0 or Just Another Clone?
Enter Ryan Watkins, co-founder of Syncracy Capital, who’s raising an eyebrow at Cantor’s new Bitcoin venture. Watkins believes Cantor’s latest move looks suspiciously like a blatant attempt to replicate MicroStrategy’s Bitcoin accumulation strategy. Because if one person does something crazy, it’s quirky; if two do it, it’s a trend; and if dozens do it? Well, it’s just another bubble waiting to pop. “Another MicroStrategy clone, by Cantor, SoftBank, and Tether, with $550 million of dry powder to start,” says Watkins. Wow, thanks for the insight, Ryan. 🧐
But wait! Not all is doom and gloom. Crypto lawyer John Deaton, ever the optimist, argues that this is simply in line with the US government’s master plan—after all, didn’t President Trump issue an executive order to create a Strategic Bitcoin Reserve? Naturally, this requires some seasoned hands like Howard Lutnick and Treasury Secretary Scott Bessent to acquire Bitcoin without upsetting the budget. Sure, sounds plausible. 🙄
So what’s the market’s reaction? Bitcoin’s price skyrocketed to a two-week high of $93,000. A win, right? Well, not so fast. Skeptics are already whispering that this rally might be as fake as a celebrity endorsement, with fears that a drop to $80K might be just around the corner. Cue the dramatic music. 🎬
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2025-04-23 09:20