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#BitcoinSPACDeal A Bitcoin SPAC (Special Purpose Acquisition Company) is a special purpose company created to raise capital through an initial public offering (IPO) in order to acquire an existing company related to Bitcoin. Essentially, it is a "blank check company" that seeks to merge with a target company to take it public without going through the traditional IPO process.

*Key Features of a Bitcoin SPAC*

- *Speed*: the merger process can be completed in 3-6 months, while a traditional IPO can take 12-18 months.
- *Certainty*: the valuation is negotiated directly with the SPAC sponsors.
- *Regulatory Navigation*: simplifies some regulatory hurdles for Bitcoin companies.
- *Access to Expertise*: SPAC sponsors often have industry experience and connections.

*Example: Twenty One Capital*

Twenty One Capital is an example of a Bitcoin SPAC that seeks to capitalize on the growing institutional adoption of Bitcoin. The company plans to:
- *Create a Bitcoin treasury*: with over 42,000 BTC, making it the third largest Bitcoin treasury.
- *Offer custody solutions*: for institutional Bitcoin investors.
- *Develop financial products*: based on Bitcoin for retail and institutional clients.
- *Measure success in Bitcoin*: through metrics such as Bitcoin per share (BPS) and Bitcoin return rate (BRR).

Twenty One Capital will merge with Cantor Equity Partners, a SPAC listed on Nasdaq, and is expected to begin trading under the symbol "XXI" in the third quarter of 2025.