So let me get this straight: Tether, the people who print stablecoins like your uncle prints lottery tickets, are backing Twenty One Capital, and they just bought 4,812 Bitcoin. That’s about $458.7 million! For perspective, that’s enough to buy several islands or, who knows, all the egg salad in Manhattan—whatever you’re into. 🤷♂️
The SEC filings say that Tether shuffled the Bitcoin around more than a guy trying to hide cash in a messy divorce—first to escrow, then to their own wallet, and finally it lands with Twenty One Capital. All very reassuring, right? Because nothing says “trust” like a crypto shell game. 🙃
Apparently, these geniuses plan to ring the bell on Wall Street under the ticker “XXI,” but for now they go by “CEP.” Because who doesn’t love a little financial rebranding in the middle of a $458 million deal? And backing them is Cantor Fitzgerald, which basically means Serious Money™, or at least Serious Suits.
Currently, they’re sitting on 36,312 BTC. Thirty-one thousand five hundred of those are being held tight by Cantor, but they want to crank that up to 42,000 BTC before they go public. Sure, why not round it up? Just toss in some Bitcoin from Tether, SoftBank, Bitfinex—dig around in the couch cushions, maybe you’ll find a few more. 💸
Oh, did I mention Jack Mallers is in charge? That’s the guy behind Strike, another “we’ll change the world with Bitcoin!” type. I mean, who isn’t changing the world with Bitcoin these days? Tether and Bitfinex basically own everything (surprise), and SoftBank just threw in a casual $900 million, like it’s lunch money.
The market didn’t want to feel left out, so “CEP” shares shot up 5.2% as soon as this news hit. Now, Twenty One Capital sits behind just MicroStrategy and MARA in the corporate Bitcoin game. That’s right, third place! Not too shabby, unless your mom is comparing you to the top two. 🥉
All this as Bitcoin’s hovering near $103,540—about as close as we’ve ever seen to the moon without sending Elon Musk along for the ride. So, is Bitcoin about to hit $120,000? Hey, why not—stranger things have happened! (Like this deal.)
Bottom line: If you thought the crypto world had peaked on “ridiculous,” think again. Twenty One Capital might just be the new maestro of making huge Bitcoin bets. Hold onto your hats—and your wallets. 🧢💼
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2025-05-14 09:31