Twenty One, backed by Tether, adds 5,800 BTC before the planned listing.

Twenty One Capital, Inc., a newly formed Bitcoin-native company, expects to add 5,800 BTC to its substantial holdings of the benchmark digital asset ahead of its public listing.

Summary
Twenty One Capital, a new Bitcoin-native company, will add 5,800 Bitcoin to its holdings.
Twenty One will become one of the largest corporate holders of Bitcoin with an additional 43,500 BTC in its holdings. The Tether backed company is receiving the BTC ahead of its anticipated public listing.

Twenty One stated in an announcement that it anticipates receiving an additional 5,800 Bitcoin btc
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Bitcoin from Tether, a major stablecoin, which comes before Twenty One’s public listing. The company, which focuses on Bitcoin and was founded in April with support from Tether and Bitfinex, among others, will increase its BTC holdings to 43,500. The additional BTC, per details in the press release, relates to a 1,381 Bitcoin purchase by Tether and the stablecoin issuer’s pre-existing obligation to buy 4,422 BTC.

Eyes on the global financial system

Amid the rising trend of Bitcoin treasury companies, the addition of over $600 million in BTC to its coffers will catapult Twenty One Capital to the third-largest among corporate holders of Bitcoin.
The standard, among corporate Bitcoin treasuries, is Michael Saylor’s Strategy.

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Twenty One aims to strengthen its position in anticipation of a Wall Street listing, despite being far from the heights Saylor’s company has reached. The new business’s total holdings have cost an average of $87,280.37 per token so far. But what exactly is Twenty One’s goal? According to Jack Mallers, co-founder and chief executive officer of Twenty One, the goal is to “reshape the global financial system”.

We believe that Bitcoin ought to have a public company that embodies its ethos. We feel like we can do anything with the partners, capital, team, and structure we’ve built, and we’re just getting started. Twenty One is a new kind of public company that is based on Bitcoin, backed by proof, and driven by a plan to change the way money is done around the world. We’re not here to beat the existing system, we’re here to build a new one,” said Mallers.

Twenty One Capital announced a business combination with Nasdaq-listed special-purpose acquisition company Cantor Equity Partners in April. Tether and Bitfinex became majority shareholders in the SPAC deal with the Cantor Fitzgerald affiliate, with SoftBank Group holding a minority stake. Closing of the business combination is pending customary closing conditions and approval from CEP shareholders. Twenty One’s shares will each represent approximately 12,559 sats upon listing.