SEC Filing Reveals Tether's Bitcoin Purchase on Behalf of Twenty One Capital
On July 2, 2026, Cantor Equity Partners Inc. disclosed in a new filing with the U.S. Securities and Exchange Commission (SEC) that Tether had acquired 4,812.2 Bitcoin for an aggregate purchase price of $458.7 million on behalf of Jack Mallers' recently launched Bitcoin treasury company, Twenty One Capital. The filing states that Tether agreed to purchase the Bitcoin within ten business days, using proceeds from the Convertible Notes PIPE entered into on April 22, 2025, minus a $52 million holdback amount. The Bitcoin will be placed in a digital wallet held by or on behalf of Tether.
Cantor Equity Partners (ticker: CEP) is currently trading in the markets and is working to complete its merger with Twenty One Capital. Post-merger, the combined entity will operate under the name Twenty One Capital and plans to list on a public exchange with the ticker $XXI. The initial PIPE Bitcoin will be sold by Tether to the merged entity at the closing of the Business Combination Agreement, once the PIPE Investors fund their investments. The entire transaction is structured to ensure that Twenty One Capital gains direct exposure to Bitcoin through its corporate treasury.
Transparency Boost: Tether's Public Bitcoin Wallet
Tether has placed the acquired Bitcoin in a digital wallet that is publicly viewable online (the link was provided in the original filing release). This move mirrors the transparency practices of spot Bitcoin ETF issuers like Bitwise and public corporations such as Metaplanet, which have openly shared their Bitcoin holdings. By making its wallet address public, Tether aims to demonstrate its commitment to transparency, a topic that has often been scrutinized in the crypto community. The wallet can be monitored by anyone, providing real-time verification of Tether's Bitcoin reserves.
Twenty One Capital's Ambitious Bitcoin Strategy
CEO Jack Mallers has articulated an aggressive Bitcoin acquisition strategy for Twenty One Capital. In a recent interview, he stated: 'We do intend to raise as much capital as we possibly can to acquire Bitcoin… We will never have Bitcoin per share negative. At least that is our intent. Our intent is to make sure when you are a shareholder of Twenty One that you are getting wealthier in Bitcoin terms.' At launch, the company will hold over 42,000 Bitcoin, instantly making it one of the largest corporate holders of BTC worldwide—second only to industry giants like Strategy (formerly MicroStrategy).
Core Business Tied to Bitcoin
Mallers further described Twenty One Capital's mission in another interview: 'We want to be the ultimate vehicle for the capital markets to participate in Bitcoin…building on top of Bitcoin. So we are a Bitcoin business at our core. It’s our founding, it’s in our name, it’s on our board, it’s at our leadership.' This statement underscores that Twenty One Capital is not a traditional corporate treasury firm but a Bitcoin-native financial entity. The company's stock price is expected to closely track the value of its Bitcoin holdings, offering investors a pure-play exposure to Bitcoin without the operational risks of crypto exchanges or mining companies.