Tether CEO Paolo Ardoino revealed that Tether and Bitfinex have respectively transferred 14,000 BTC and 7,000 BTC to the Bitcoin investment firm Twenty One Capital as part of the company's investment. Previously, Tether had pre-invested approximately 4,812 BTC to support the company's first round of PIPE (Private Investment in Public Equity) financing.
Tether collaborates with SoftBank and Bitfinex to launch a $3.6 billion Bitcoin investment project.
Twenty One Capital is a new Bitcoin investment firm led by Strike founder Jack Mallers, aiming to go public on NASDAQ through a merger with Cantor Equity Partners' SPAC, with the ticker symbol XXI. The company plans to convert its Bitcoin reserves into equity at a price of $10 per share and raise $585 million through convertible bonds and equity financing.
This transfer from Tether is part of its broader strategy to allocate a portion of its profits to Bitcoin investments as part of its reserve diversification strategy.
