Tether buys Bitcoin worth 459 million dollars for Twenty One Capital

Tether has added 4,812 Bitcoin to the Bitcoin holdings of Twenty One Capital, which is currently trading under the name Cantor Equity Partners until the companies complete the merger.

The stablecoin issuer Tether has purchased 458.7 million dollars worth of Bitcoin for Twenty One Capital, an investment company in Bitcoin that it supports, which is currently awaiting the completion of a merger with Cantor Equity Partners, a special purpose acquisition company (SPAC).

Tether acquired 4,812.2 Bitcoin at a price of 95,319 dollars per share and transferred it into an escrow wallet on May 9, as revealed by Cantor Equity Partners in a filing with the U.S. Securities and Exchange Commission on May 13.

This brings the total number of Bitcoin held by Twenty One to 36,312 BTC, as Cantor Equity Partners holds 31,500 BTC on behalf of the company, which will trade under the ticker symbol XXI after the SPAC merger is completed.

On May 13, Twenty One's CEO, Jack Mallers, stated that they are in the process of approving the merger but did not provide an exact estimate of when the transaction will be completed.

Twenty One is currently the third-largest Bitcoin holder, only behind Strategy and Bitcoin mining company MARA Holdings, with 568,840 Bitcoin and 48,237 Bitcoin, respectively, according to data from BitcoinTreasuries.net.

Tether is a major shareholder of Twenty One along with the cryptocurrency exchange Bitfinex. Cantor Fitzgerald, a major figure on Wall Street, is financing the merger, providing financial advisory services and securing 585 million dollars in funding to support Twenty One's Bitcoin investments. #TwentyOne