A new heavyweight player is entering the bitcoin investment arena as Cantor Fitzgerald, stablecoin issuer Tether, and Japanese tech giant SoftBank Group have joined forces to create Twenty One Capital, a $3.6 billion bitcoin-focused investment company. This venture aims to become the third-largest corporate holder of bitcoin globally, following in the footsteps of MicroStrategy’s well-known bitcoin acquisition strategy.
Twenty One Capital will launch with a portfolio of over 42,000 bitcoins, valued at approximately $3.6 billion based on current bitcoin prices near $85,000 to $94,000 per coin. The ownership structure places majority control with Tether and its affiliated crypto exchange Bitfinex, while SoftBank holds a minority stake. Tether is contributing $1.6 billion in bitcoin, Bitfinex adds $600 million, and SoftBank is investing $900 million into the venture.
Brandon Lutnick, son of former Cantor Fitzgerald CEO and current U.S. Commerce Secretary Howard Lutnick, leads Cantor Fitzgerald’s involvement through its special purpose acquisition company (SPAC), Cantor Equity Partners. The SPAC merged with Twenty One Capital to facilitate this large-scale bitcoin acquisition. Jack Mallers, CEO of Strike and a prominent bitcoin advocate, has been appointed co-founder and CEO of Twenty One Capital. Mallers emphasizes that the company’s mission is not merely to outperform the market but to build a new bitcoin-centric public stock for the community of bitcoin enthusiasts.
This initiative is inspired by MicroStrategy’s success, which has amassed over 538,000 bitcoins valued at around $45 billion, demonstrating the potential for institutional bitcoin holdings to drive significant value appreciation. The timing of the venture aligns with optimistic market sentiment fueled by expectations of crypto-friendly policies under U.S. President Donald Trump’s administration, who has pledged to ease regulations on digital assets.
In addition to the initial bitcoin holdings, Twenty One Capital plans to raise an additional $585 million through convertible bonds and equity financing to further expand its bitcoin treasury. The company also intends to list publicly on Nasdaq under the ticker symbol “XXI,” providing investors a direct way to gain exposure to bitcoin through a regulated stock vehicle.
This collaboration marks a significant institutional endorsement of bitcoin as a long-term asset, reflecting growing confidence in its role as a decentralized, censorship-resistant store of value amid global economic uncertainties.
In summary, Twenty One Capital represents a major new entrant in the bitcoin investment space, backed by influential players Cantor Fitzgerald, Tether, and SoftBank, aiming to rival MicroStrategy’s dominance and capitalize on bitcoin’s rising adoption and value.
