🔥 LATEST: Tether bought 4,812 #Bitcoin worth $459M for Twenty One Capital.

Tether has made a significant move in the cryptocurrency market by purchasing 4,812.2 Bitcoin (BTC) for approximately $458.7 million on behalf of Twenty One Capital, a Bitcoin investment firm it supports. This acquisition, executed at an average price of $95,319 per BTC, was disclosed in a May 13 filing with the U.S. Securities and Exchange Commission. Twenty One Capital is a collaborative venture involving Tether, Bitfinex, SoftBank, and Cantor Fitzgerald. The firm is currently undergoing a Special Purpose Acquisition Company (SPAC) merger with Cantor Equity Partners, after which it plans to trade on the Nasdaq under the ticker symbol "XXI". With this recent purchase, Twenty One Capital's total Bitcoin holdings have reached 36,312 BTC, positioning it as the third-largest corporate Bitcoin holder, following MicroStrategy and Marathon Digital Holding. The firm aims to launch with a substantial treasury of over 42,000 BTC, valued at approximately $4.4 billion. This includes contributions of 23,950 BTC from Tether, 10,500 BTC from SoftBank, and about 7,000 BTC from Bitfinex. Under the leadership of CEO Jack Mallers, who also heads the Bitcoin payments firm Strike, Twenty One Capital intends to offer Bitcoin lending services and other financial products. This strategic move by Tether and its partners underscores the growing trend of institutional investment in Bitcoin, reflecting a broader shift towards cryptocurrency adoption in the financial sector.