Cryptographics | Cantor Fitzgerald Stocks Jump After Announcing Financial Reserves with 42 Thousand Bitcoins
Cantor Fitzgerald, a global investment banking firm, has recorded a 56.38% increase after announcing plans to launch a Bitcoin Treasury worth US$3 billion. This is being done in collaboration with Tether, SoftBank, and Bitfinex to acquire Bitcoin with a target price of around US$85,000 per coin.
The new venture named Twenty One Capital will start with over 42,000 BTC, making it the third-largest corporate Bitcoin treasury in the world. This tactic mimics the success of Strategy, which currently holds over 538,200 BTC with a market capitalization of around US$91 billion.
The joint venture will be supported by a fund of US$1.6 billion from Tether, US$600 million from Bitfinex, and US$900 million from SoftBank, while an additional US$550 million will be raised through convertible bonds and private equity.
CEO of Twenty One Capital, Jack Mallers, emphasized that their goal is not only to beat the market but to build a new Bitcoin ecosystem.
Meanwhile, Strategy (MSTR) recorded a 7.58% increase in the same period, making it the second-best performing stock after Cantor Fitzgerald. This surge strengthens its position as a pioneer in Bitcoin investment amidst growing institutional interest in crypto assets.
NEWS BY AKADEMI CRYPTO (AC)