Twenty One Capital has purchased Bitcoin worth $458.7 million.

PANews, May 14 – According to The Block, cryptocurrency investment firm Twenty One Capital (stock code CEP), backed by Cantor Fitzgerald, Tether, and SoftBank, has acquired 4,812 Bitcoins, worth $458.7 million, marking the first of several buy orders the firm has pledged. A securities filing on Tuesday revealed that stablecoin issuer Tether completed the purchase shortly after the establishment of Twenty One Capital. The transaction is based on an agreement that uses the total proceeds from a subscription agreement related to the issuance of convertible bonds by publicly traded entities. The initial allocation mentioned in the "initial PIPE Bitcoin" transaction has been transferred to a Wallet controlled by Tether. Upon completion of the business merger, Tether will sell this batch of Bitcoins to the listed company for $458.7 million. Twenty One Capital was established through a merger with Cantor Equity Partners' SPAC, holding a balance sheet valued at $3.6 billion in Bitcoin at the time of its establishment, becoming the third largest holder of Bitcoin among publicly traded companies.