Twenty One Capital Adds Another 4,812 Bitcoin to Its Treasury After Fresh Purchase by Major Backer Tether

Twenty One Capital has added another 4,812 Bitcoin to its treasury after a fresh purchase by major backer Tether ahead of a planned Special Purpose Acquisition Company merger.

Tether has purchased another 4,812 Bitcoin (BTC) for Twenty One Capital ahead of the major backer’s planned contribution to the Special Purpose Acquisition Company (SPAC).

According to a May 13 filing with the U.S. Securities and Exchange Commission (SEC), Tether acquired the BTC at an average price of $95,319 per token on May 9 and transferred the assets to an escrow wallet.

The purchase, which is worth roughly $458.7 million, brings Twenty One Capital’s total Bitcoin holdings to 36,312. This places the company just behind Strategy (NASDAQ:STRM) and MARA Holdings (NASDAQ:MARA) in terms of corporate Bitcoin ownership.

Tether is one of the leading stakeholders in Twenty One Capital, alongside crypto exchange Bitfinex and Japanese tech giant SoftBank. The trio founded the company in April 2025 with a shared goal of creating a Bitcoin-native public firm focused on long-term BTC accumulation and institutional access.

As noted in a business combination agreement signed in April, Tether agreed to buy Bitcoin equivalent to the expected proceeds from a Private Investment in Public Equity (PIPE) investment and transfer it into a designated wallet to be sold to Twenty One Capital at the close of the merger.

On May 9, Tether completed the purchase of the 4,812 Bitcoin at an average price of $95,319 per token. The total value of the cryptocurrency at the time of transfer was $458,693,608.

The cryptocurrency behemoth is also providing 23,950 Bitcoin to Cantor Fitzgerald’s SPAC (NYSE:AFXV) as part of a larger capital commitment. In total, the SPAC will contribute $400 million to support Twenty One Capital’s Bitcoin strategy.

Cantor Equity Partners, a Cayman Islands-based SPAC affiliated with Wall Street firm Cantor Fitzgerald (NYSE:FIG), is facilitating the merger that will ultimately list Twenty One Capital on public markets with the ticker XXI.

Earlier filings disclosed that the company plans to debut with at least 42,000 Bitcoin in assets. As a part of the commitment, Tether will provide 23,950 BTC, SoftBank 10,500 BTC, and Bitfinex around 7,000 BTC, all of which will be converted into shares priced at $10 each.

Last month, Twenty One Capital positioned itself as a future competitor to Strategy (formerly MicroStrategy (NASDAQ:MCRI) in a statement announcing its goal to become the “superior vehicle” for capital-efficient Bitcoin exposure.

Instead of focusing on traditional financial metrics, the company said it will be prioritizing “Bitcoin per share” as its key success indicator.

At the helm of this initiative is Strike founder Jack Mallers, who was appointed CEO of Twenty One Capital in April.

Known for his vocal support of Bitcoin and his work on Lightning-based payments, Mallers described the new company as a stock “built by Bitcoiners, for Bitcoiners.”

He has also outlined ambitious plans for Twenty One to roll out Bitcoin-native financial products, including lending tools and capital market offerings.

“Our mission is simple: to become the most successful company in Bitcoin,” said Mallers.