Newly launched Bitcoin investment firm Twenty One Capital has made an aggressive market debut by acquiring 4,812 BTC—worth approximately $458.7 million. The buy-in, filed with regulators on Tuesday, was structured through a private investment in public equity (PIPE) linked to a convertible notes offering.
Tether facilitated the acquisition shortly after the company’s incorporation, initially holding the BTC in a wallet under its control. Once Twenty One Capital completes its merger with Cantor Equity Partners, the bitcoin will be transferred to the public company at the stated price.
Backed by Tether, SoftBank, and Cantor Fitzgerald, the firm is listed under the ticker “CEP.” The move marks a high-stakes opening for a Bitcoin-native financial vehicle that plans to stake its future on long-term digital asset accumulation and infrastructure development.
Twenty One Capital Debuts as Third-Largest Public Bitcoin Holder
Twenty One Capital enters the market with $3.6 billion in bitcoin, instantly making it one of the largest BTC-holding public companies—surpassing even Tesla and trailing only MicroStrategy and MARA Holdings.
Led by Jack Mallers, founder of the Strike payment platform, the firm is supported by Tether and Bitfinex as majority stakeholders, with SoftBank holding a minority position. The company’s balance sheet reflects a “Bitcoin-first” approach, aligning with the corporate blueprint pioneered by Michael Saylor’s MicroStrategy.
Twenty One Capital aims to be a major institutional voice in crypto investing, blending deep industry ties with growing institutional appetite for on-chain exposure.
Cantor Fitzgerald’s SPAC Powers Bitcoin Investment Strategy
The new firm’s debut was made possible through a SPAC merger with Cantor Equity Partners, affiliated with investment giant Cantor Fitzgerald. After raising $200 million earlier this year, the SPAC has committed to a multi-billion-dollar push into Bitcoin.
Cantor’s strategic involvement in the digital asset space began in 2023, when it partnered with Tether on a $2 billion Bitcoin lending initiative. Since then, the firm has inked partnerships with top-tier crypto custodians Anchorage Digital and Copper.
This expansion comes amid increasing political alignment: President Donald Trump appointed Cantor executive Howard Lutnick as Commerce Secretary in 2024, signaling that Cantor’s crypto ambitions may enjoy a favorable regulatory tailwind under the current administration.
Together, Twenty One Capital and its backers are positioning themselves to lead the next wave of institutional Bitcoin adoption—fueled by strategic capital, seasoned leadership, and government proximity.
Quick Facts
- Twenty One Capital acquired 4,812 BTC for $458.7 million.
- Backed by Tether, SoftBank, and Cantor Fitzgerald.
- Jack Mallers serves as CEO of the new public company.
- Total bitcoin holdings now exceed $3.6 billion.
- Firm formed through merger with Cantor Equity Partners SPAC.
