One of the main exporters of Stablecoin put nearly half a billion dollars in Bitcoin. According to presentation With the US Securities and Stock Exchange Committee on May 13, Tether bought 4,812 BTC at an average price of $ 95319 each on May 9. It adds approximately $ 460 million from Bitcoin to a special guarantee wallet associated with Twenty -one capitalIt is a tether -backed company that works to integrate Spac with Cantor Equity Partners.
Image: Flipster
Bold Bitcoin move
Based on reports, Tether is not only the position of distinctive symbols anymore. It takes the risk of direct prices. By placing approximately $ 460 million in twenty -one Bitcoin Stash, STABLECOIN is exported to the world of corporate holders. This purchase reinforces the total of twenty -one to 36312 BTC. Cantor Equity Partners 31500 BTC owns on behalf of twenty -one, and the rest came directly from the Tether’s Reserve.
Per a May 13 SEC filing, Tether bought 4,812 BTC on May 9 and moved them into escrow. Source: US SEC.
Flaving stock rate patterns
Twenty -one share will be traded in the future under the XXI index as soon as the SPAC deal is closed. CEO, Jacques Malars, says the approvals are in a movement, although he stopped naming an appointment. Investors have already seen land fluctuations: XXi shares jumped from $ 10.65 to $ 59.73 on May 2, then fell to $ 29.84, and rose 5.2 % in trading after the last hours of purchase.
Senior supporters on board the plane
Tether is not alone in twenty -one financing. Softbank pledged 900 million dollars. BitFinex, another encryption company, will convert about 7000 BTC into ownership rights at $ 10 per share. Cantor Fitzgerarald Spac, which lines 585 million dollars to support more bitcoin purchases. These names give weight, but each partner brings its own risks, from market movements to the resulting strategies.
BTCUSD trading at $103,124 on the 24-hour chart: TradingView.com
Climbing upward
With 36312 BTC in the cabinet, Twenty One Capital will rank third as the largest Bitcoin Corporate holder. Strategy (Previously Microstrategy) sits at the top with 568,840 BTC. MARATHON DIGIAL is backed by BMO 48,237 BTC. Twenty -one is now chasing that third place, hoping that investors will see this as a car for a pure bitcoin.
Image: Elliptic
Bitcoin for each shares focus
Twenty -one is simple: bitcoin grows per share. According to its presentation, the profit will not pay its strategy. Instead, every dollar will be added to buy more BTC. This contradicts most public companies, which measure success through profits for the share. Here, a height in BTC Holdings is the goal.
What is the next for investors
The Spac road still has obstacles. Reports reveal that SEC reviews can continue, and investors will see any changes in the terms of capitalism. if Bitcoin Factors, twenty -one can rise. If it decreases, there is no operating profit to reduce the strike. For those who want Bitcoin directly, this may seem attractive. But anyone yearning for fixed returns from fees or services may appear elsewhere.
In the coming weeks, market monitors will track both the green light from SEC and how it runs twenty -one of the widespread bitcoin. The answer will form whether Stablecoin are new players in Bitcoin.
Distinctive image from Gemini Imagen, the tradingvief chart
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