SoftBank, along with Tether, Bitfinex, and Cantor, will collaborate to establish a new company named 21 Capital, with an initial capital of 3 billion USD in Bitcoin and is expected to go public through a SPAC model.

SoftBank contributes 900 million USD to purchase Bitcoin at a price of 85,000 USD, while Tether invests 1.5 billion USD and Bitfinex 600 million USD.

This is seen as the biggest gamble by Masayoshi Son (SoftBank) with Bitcoin to date. Previously, in 2017, Son personally bought about 200 million USD in Bitcoin near the market peak, but later sold it and incurred a loss of more than 130 million USD in just a few months.

Additionally, earlier this year, SoftBank also invested 50 million USD in Cipher Mining, purchasing about 10.4 million shares (equivalent to 3%) to support the development of high-performance data centers. However, the exclusive agreement regarding the data center space has not been finalized.