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 considered the biggest gamble of Masayoshi Son (SoftBank) with Bitcoin to date. Previously, in 2017, Son personally bought about 200 million USD worth of Bitcoin near the market peak, but then sold it and incurred losses of over 130 million USD just a few months later.

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 a high-performance data center. However, the exclusive agreement regarding the data center space was not completed.