Tether Buys $458M Bitcoin For Twenty One Capital As It Moves To Challenge Michael Saylor’s Strategy
Tether has purchased $458.7 million worth of Bitcoin for Twenty One Capital, a crypto investment firm it backs that says it wants to overtake Strategy (formerly MicroStrategy) as the largest corporate holder of BTC. A May 13 filing disclosed that Tether acquired 4,812.2 Bitcoin at an average purchase price of $95,319. The BTC was transferred to an escrow wallet as Twenty One Capital prepares to complete a SPAC merger with Cantor Equity Partners. Twenty One Capital Is Already The Third-Largest Corporate BTC Holder Twenty One Capital is already the third-largest corporate Bitcoin holder, behind Strategy and Bitcoin mining firm MARA Holdings — and is positioning itself as a more “capital-efficient” vehicle for investors seeking direct Bitcoin exposure. Twenty One Capital’s holdings stand at 36,312 Bitcoin following the recent buy by Tether . Data from BitcoinTreasuries shows Strategy holds 568,840 BTC, while MARA Holdings has 48,237 BTC in its reserves....