Twenty One Capital and Tether Acquire 4,812 Bitcoin
On July 2, Cantor Equity Partners, Inc. revealed in a new SEC filing that Tether purchased 4,812.2 Bitcoin for a total of $458.7 million on behalf of Jack Mallers’ recently launched Bitcoin treasury company, Twenty One Capital, which plans to eventually go public under the ticker $XXI.
“Pursuant to the Business Combination Agreement, Tether agreed that within ten (10) business days thereof, it would purchase a number of Bitcoin equal to an aggregate purchase price of $458,700,000,” Cantor stated in the filing. “With the Convertible Notes PIPE, entered into on April 22, 2025 by Pubco and the Company with certain investors, less a holdback amount of $52,000,000), and place such Bitcoin in a digital wallet held or operated by or on behalf of Tether.”
Tether Holds Bitcoin Transparently
Tether is holding the Bitcoin in a digital wallet, which anyone can view online, showcasing transparency similar to how spot Bitcoin ETF issuers and other public corporations like Bitwise and Metaplanet have disclosed their holdings.
“The Initial PIPE Bitcoin will be sold by Tether to Pubco at the closing of the transactions contemplated by the Business Combination Agreement upon the funding of the PIPE Investments by the PIPE Investors for a purchase price of $458,700,000,” the filing further stated.
Merger Progress and Company Vision
Cantor Equity Partners Inc., currently trading under the ticker CEP, is now live in the markets as it works toward completing its merger with Twenty One Capital. CEO Jack Mallers recently emphasized the firm’s aggressive Bitcoin acquisition strategy, stating: “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. The 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—only behind industry giants like Strategy.
Jack Mallers’ Ultimate Goal
In a recent interview, Jack Mallers described Twenty One Capital’s mission clearly: “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 its core. It’s our founding, it’s in our name, it’s on our board, it’s at our leadership.”