Tether, the giant behind the world’s largest stablecoin, has acquired 4,812 BTC for $458.7 million. This acquisition is part of a strategic investment deal with Cantor Equity Partners, which aims to encourage a new Bitcoin-focused venture called Twenty One Capital.
Tether and Cantor in 4,812 BTC Buy
Tether bought the 4,812 BTC at an average price of $95,319 per coin, as revealed in an SEC filing by Cantor Equity Partners. The acquired BTC stash is tied to a private investment in a public equity (PIPE) deal, linked to Twenty One Capital’s merger with Cantor’s special purpose acquisition company (SPAC). This merger, valued at $3.6 billion, will see Twenty One launch as a publicly traded company on Nasdaq under the ticker “XXI.”
The company, led by Strike CEO Jack Mallers, plans to hold 42,000 BTC at launch, making it one of the largest Bitcoin treasuries globally. Tether, alongside Bitfinex and SoftBank, will own the majority stake, with 31,500 BTC held in custody by Cantor. For Tether, this expands its portfolio beyond stablecoins, utilizing its $1 billion Q1 2025 revenue to deepen crypto market influence.
According to Tether, Twenty One offers investors a way to gain Bitcoin exposure without directly owning it, similar to Strategy’s model. The deal also boosts Cantor’s crypto credentials, potentially attracting institutional investors amid growing mainstream adoption.
Bitcoin Catches More Attention
Tether’s move follows other high-profile crypto-focused investments. Strategy, led by Michael Saylor, has stashed over $50 billion in Bitcoin since 2020, inspiring firms like Japan’s Metaplanet to follow suit.
In 2024, BlackRock partnered with Coinbase to launch Bitcoin ETFs, bridging traditional finance and crypto. Similarly, Fidelity’s 2023 venture with Galaxy Digital offered institutional clients Bitcoin custody services. These partnerships show Wall Street’s increasing embrace of digital assets, with Tether’s Cantor deal adding to the momentum.
Tether’s $458.7 million Bitcoin purchase positions it as a key player in the Bitcoin treasury race. As crypto sentiment surges under a pro-crypto U.S. administration, Tether plans to deepen ties with Cantor and expand its influence in both crypto and traditional finance.
