Strategic Bitcoin Investment Positions the Company as a Major Institutional Holder
Today, Cantor Equity Partners, Inc. revealed in a new filing with the SEC that Tether purchased 4,812.2 Bitcoin worth $458.7 million on behalf of Jack Mallers’ recently launched Bitcoin treasury company, Twenty One Capital. The firm, which plans to eventually go public under the ticker $XXI, executed this significant acquisition as part of its aggressive Bitcoin investment strategy.
JUST IN: Jack Mallers Twenty One Capital and Tether buys 4,812 #Bitcoin for $458,700,000 🤯 pic.twitter.com/SZFMZcDBAa
— Bitcoin Magazine (@BitcoinMagazine) May 13, 2025
“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. The purchase is connected to a Convertible Notes PIPE (Private Investment in Public Equity) agreement entered on April 22, 2025.
The stablecoin issuer made the purchase shortly after Twenty One Capital was incorporated, according to Tuesday’s securities filing. As part of the arrangement, Tether is currently holding the Bitcoin in a digital wallet under its control. Upon the closing of the business combination, Tether will sell the bitcoin to the public company for the same $458.7 million price.
In a move toward transparency, Tether is making the Bitcoin holdings publicly viewable online, similar to practices adopted by some spot Bitcoin ETF issuers and other public corporations like Bitwise and Metaplanet.
Corporate Strategy and Market Position
Currently trading under the ticker CEP, Cantor Equity Partners Inc. is working toward completing its merger with Twenty One Capital. CEO Jack Mallers has been vocal about the company’s ambitious approach, 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. Our intent is to make sure when you are a shareholder of Twenty One that you are getting wealthier in Bitcoin terms.“
The firm, led by Strike founder Jack Mallers, is among dozens of companies that have adopted a bitcoin-focused investment strategy, following in the footsteps of Michael Saylor’s playbook. Twenty One Capital is majority-owned by Tether and its sister company, crypto exchange Bitfinex, with SoftBank as a minority stakeholder.
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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 (formerly MicroStrategy). This positions Twenty One Capital as the third-largest public Bitcoin holder.
The recent acquisition was executed at an average price of approximately $95,300 per Bitcoin, according to data from May 14, 2025.
Future Vision and Industry Context
In a recent interview, 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 our core. It’s our founding, it’s in our name, it’s on our board, it’s at our leadership.“
Twenty One Capital’s strategy reflects a growing trend of corporate Bitcoin adoption. Strategy (formerly MicroStrategy), under Michael Saylor’s leadership, remains the largest corporate Bitcoin holder with 568,840 BTC, costing $39.41 billion as of May 11, 2025. Other notable institutional holders include Metaplanet, often called the “Strategy of Asia,” which has surpassed El Salvador’s holdings with 6,796 BTC, and Semler Scientific, a medical device company holding 3,634 BTC worth $342 million as of May 2025.
These institutions view Bitcoin as “digital gold,” a hedge against inflation and a store of value in an uncertain economic landscape. Their strategies often involve issuing bonds or stocks to fund Bitcoin purchases, as seen with Strategy’s $21 billion stock offering and MicroStrategy’s earlier $561 million bond sale.
Market Impact and Outlook
As of today, Bitcoin is trading around $103,924, according to market data. The substantial purchase by Twenty One Capital demonstrates continued institutional confidence in Bitcoin as a long-term store of value, despite market volatility.
While the trend reflects growing acceptance of Bitcoin among public companies, risks remain. Strategy reported a $670.8 million loss in Q4 2024, driven largely by its significant Bitcoin investment. Twenty One Capital’s substantial entry into this space intensifies the high-stakes competition for corporate crypto investment and potentially sets new benchmarks for institutional involvement in digital assets.
With this latest acquisition, Jack Mallers and Twenty One Capital have made a clear statement about their belief in Bitcoin’s future and their ambition to be at the forefront of institutional adoption in the cryptocurrency space.
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