Stablecoin issuer Tether has significantly boosted its Bitcoin holdings by investing $458.7 million, directly supporting the special purpose acquisition company (SPAC) merger of Bitcoin investment firm Twenty One Capital. The investment was made on behalf of Twenty One Capital, which is currently undergoing a merger process with Cantor Equity Partners, and will be publicly traded under the ticker “XXI.” 2023. The funds were acquired from Tether, and moved to an escrow account on May 9th. This significant move increases Twenty One’s total Bitcoin holdings to 36,312 BTC, making them one of the biggest corporate holders in the space. Cantor Equity Partners, a financial powerhouse backing the merger, has already secured $585 million in funding for the firm’s Bitcoin strategy. 2023. SoftBank, a Japanese conglomerate, has also invested $900 million in the firm. Twenty One Capital plans to reach its goal of accumulating 42,000 BTC by launch and has previously stated that it will measure its success by Bitcoin per share rather than traditional valuation metrics like earnings per share. The firm is aiming to become a major player in Bitcoin exposure for investors, surpassing Strategy (formerly MicroStrategy) as one of the largest corporate Bitcoin holders, which currently holds 568,840 BTC. Jack Mallers, CEO of Twenty One and founder of Strike, confirmed that the merger approval process is underway, though a completion date hasn’t been announced. 2023. Tether, alongside crypto exchange Bitfinex, is also a major stakeholder in the firm. 2023.