Transfer of 2.7 billion Bitcoin from Bitfinex to Twenty One Capital observed
Tether and Bitfinex Move a Whopping $2.7 Billion Worth of Bitcoin to New Bitcoin Treasury Firm, Twenty One Capital
Get ready for the crypto revolution, folks! Tether and Bitfinex have partnered with Twenty One Capital, a new Bitcoin treasury firm, to accumulate a humongous amount of Bitcoin. With an initial transfer of 25,812 BTC (worth approximately $2.7 billion), this strategic collaboration aims to position Twenty One Capital as one of the world's leading corporate Bitcoin holders.
On Monday, Tether CEO Paolo Ardoino revealed the pre-funding move on X (formerly Twitter), stating that the BTC was dispatched "as part of the pre-funding of the initial convert/equity raise in Twenty One Capital." Ardoino, who is also CTO of Bitfinex, added that more contributions would follow from Tether and Bitfinex, with an additional contribution made on behalf of SoftBank.
Twenty One Capital is powered by bigwigs such as Bitfinex, SoftBank, and Cantor Fitzgerald. Jack Mallers, CEO of Strike, heads Twenty One Capital. In line with MicroStrategy's popular strategy, the company plans to buy large amounts of Bitcoin using corporate debt. Mallers has promised transparency by presenting proof of reserves.
With its ambitious mission to acquire up to 42,000 BTC, Twenty One Capital is gearing up to become a heavyweight in the competitive field of corporate Bitcoin treasuries. By leveraging convertible senior secured notes, Twenty One Capital aims to raise capital for Bitcoin purchases, and its financial model revolves entirely around acquiring and holding Bitcoin.
The company will list its stock on public exchanges via a SPAC merger with Cantor Equity Partners and is planning to raise an additional $100 million through convertible notes, paving the way for even more Bitcoin acquisitions. To solidify its position, Twenty One Capital has already amassed over 4,800 BTC, worth approximately $458.7 million.
CEP shares jumped 7% to $43 on Monday, and later peaked at $59.75, showing investor enthusiasm for this game-changing Bitcoin accumulation strategy.
As the crypto market continues to evolve, the strategic partnership between Tether, Bitfinex, and Twenty One Capital is poised to shape the future of corporate Bitcoin holdings, taking inspiration from MicroStrategy's pioneering "Saylorization" strategy. So, buckle up, folks, because we're in for a wild ride!
Fun Fact: On a side note, Tether now holds an impressive 100K Bitcoin and 50 tons of gold, as per Ardoino!
Insights:
- Twenty One Capital is on a mission to become one of the world’s largest corporate BTC treasuries.
- The company uses convertible senior secured notes and private investment in public equity (PIPE) deals to finance its Bitcoin purchases.
- Major institutional backers, including Tether, SoftBank, and Cantor Fitzgerald, support this crypto-powered strategy for rapid Bitcoin accumulation.
- With a Bitcoin-native structure and transparent proof of reserves, Twenty One Capital could attract both crypto and traditional investors.
The strategic partnership between Tether, Bitfinex, and Twenty One Capital may revolutionize corporate Bitcoin holdings, mirroring MicroStrategy's approach, as these entities accumulate Bitcoin with an aim to position Twenty One Capital as one of the world's leading corporate Bitcoin holders. This collaboration involves the use of finance strategies such as convertible senior secured notes to acquire Bitcoin.
