Tether -supported investment firm Twenty One Capital, according to an application made to the US Securities and Stock Exchange Commission (SEC), on May 13, 2024, the total value of 458.7 million dollars of 4,812 Bitcoin $103,910.46 bought it. This process takes place within the scope of the company’s special purpose purchasing company (Spac) with Cantor Equity Partners. The new purchase of the company coincided with the same period as Bitcoin’s price, while the crypto currency was traded around $ 103,540 during the purchase.
Purchasing and new goals
Tether, the central fixed coin provider, was purchased. Bitcoin was transferred to a safety wallet on May 9 and was then transferred to the Tether -controlled wallet. Then, for $ 458.7 million, the public will be sold to Twenty One Capital. This process is part of the company’s spac merger and PIP arrangement with Cantor Equity Partners.
When the merger is completed, the company’s code on the stock market will be XXI. Currently, the shares are traded with their pocket code and the spac structure is supported by Cantor Fitzgerald, a Wall Street company. The company’s total Bitcoin presence rose to 36,312 with the new purchase. 31,500 of this are kept in the name of Cantor Equity Partners.
Company’s management, partnership structure and strategy
Twenty One Capital, led by Jack Mallers, is known as the founder of the Bitcoin payment application called Strike. The company’s strategy stands out as creating a portfolio focused on Bitcoin like Microstrategy. In the statements made to the SEC, the company’s goal is to be an efficient Bitcoin investment tool for capital.
Twenty One Capital’s statement to SEC: uz We aim to be a superior investment tool that provides an efficient Bitcoin exposure in terms of capital. ”
Tether and the affiliated organization Bitfinex are the majority shareholders of the company. The Japanese investment group Softbank stands out as a minority shareholder with its $ 900 million investment. Cantor Fitzgerald sponsored and consulting the merger, as well as a fund of $ 585 million for future Bitcoin purchases.
The company has a target of increasing its total Bitcoin assets in 42,000 after the public offering. To achieve this goal, Tether will be transferred from 23,950, 10,500 from Softbank and 7,000 Bitcoin from Bitfinex. These assets will be converted to the company as a shareholder share in $ 10 per share.
Market reactions and other investors
Following the Bitcoin purchasing news of the company, Cantor Equity Partners (Mobile) shares took place. On May 2, the share price rose from $ 10.65 to $ 59.73 and then fell to 29.84 dollars. After the deadline, the share gained 5.2 percent in post -overtime transactions.
According to BitcoinTreasuries.net data, Twenty One Capital is the third largest corporate investor to hold Bitcoin after Microstrategy and Mara Holdings. The company adopts its performance with Bitcoin per share. On the other hand, other companies, such as Japanese Metaplanet, increase their crypto assets.
Mobility and analyst comments in Bitcoin price
The new purchase is evaluated with the price of Bitcoin approaching $ 103,540. The powerful upward trend in the market allowed the crypto currency to approach the previous highest value. Analysts closely watch if the price will rise to the next level.
Market analyst Michaël Van de Poppe said that after the release of inflation in the United States, the FED could go to interest rate reduction, which could create a positive environment for crypto currency. Another analyst Colintecrypto pointed out the Correlation of BTC with the money supply, and predicted that there was a similar rise to the cycle in the first half of the year and the price could exceed $ 120,000 in the coming period.
Twenty One Capital’s recent acquisition indicates that institutions’ interest in crypto beings has increased. With the company’s growing Bitcoin portfolio, the developments before the public offering are carefully monitored in the crypto market. In particular, the company’s performance measurement beyond traditional methods to determine with the ratio of Bitcoin per share is seen as a new approach in the sector. Recently, more than one major investors traded with similar strategies, leading to an increase in institutional mobility in crypto currencies. Market analysts say that new record levels can come to the agenda by evaluating macroeconomic data and corporate moves together.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
