Tether Buys $459 Million in Bitcoin to Fund New BTC Treasury Company

Tether Buys $459 Million in Bitcoin to Fund New BTC Treasury Company Publicly traded Bitcoin company Twenty One, which will launch via a planned merger, already has a BTC stash piling up—thanks to Tether. Decrypt’s Art, Fashion, and Entertainment Hub. Twenty One, a new publicly traded Bitcoin company that will trade on the Nasdaq via a planned SPAC merger with Cantor Equity Partners, already has nearly $459 million worth of Bitcoin waiting for its treasury thanks to a purchase made by stablecoin giant Tether. In an S EC filing Tuesday, Cantor Equity Partners disclosed that Tether—one of the firms collaborating to create Twenty One—purchased 4,812.22 BTC at an average price of $95,319.83 per coin, adding up to $458.7 million worth of Bitcoin. The cryptocurrency will then be sold to Twenty One once the merger is completed, at the same purchase price. Twenty One, which is being formed through a collaboration between Tether, Bitfinex, Cantor Fitzgerald, and SoftBank Group, plans to launch with a treasury of more than 42,000 Bitcoin, or almost $4.4 billion worth at the current price. The planned merger and collaboration was announced in April . Editor's note: This story is breaking and will be updated with additional details. Daily Debrief Newsletter