Major Bitcoin Transfer to New Treasury Firm Twenty One Capital Announced

Five large Bitcoin transfers originating from Tether and Bitfinex have collectively moved over 37,000 BTC—valued at approximately $3.9 billion—to New York-based digital treasury firm Twenty One Capital. The CEO of Tether and CTO of Bitfinex, Paolo Ardoino, announced the transfers on social media platform X.

Tech Leaders Back New Bitcoin-Focused Entity

Twenty One Capital, founded by Jack Mallers (CEO of Strike and Zap founder), aims to lead the “bitcoin treasury space.” The venture is backed by Tether, Bitfinex, SoftBank, and Cantor Fitzgerald.

Pre-Funding Transfer: According to CEO Paolo Ardoino, transfers included 10,500 BTC on behalf of SoftBank’s investment.

SPAC Merger Secured

The company plans to go public via a SPAC merger with Cantor Equity Partners (CEP), trading under the ticker XXI on Nasdaq. Following the announcement, CEP’s stock price surged from $11 to $59.75.

Cantor Equity Price Impact: Shortly after the merger news, Cantor Equity stock price increased significantly. (Source: TradingView)

Illustrative graphic depicting Cantor Equity stock price jump.

Tether and Bitfinex have moved significant amounts of BTC to Twenty One Capital, specifically:

10,500 BTC (worth approx. $1.1B) from Tether
19,729.69 BTC (worth approx. $2B) from Tether
7000 BTC (worth approx. $740M) from Bitfinex

This represents a total of 37,229.69 BTC, approximately $3.9 billion.

Bold Mission: Accumulate and Transact in Full Transparency

Twenty One Capital’s stated mission is to accumulate Bitcoin with complete transparency, providing “proof-of-reserves.” CEO Jack Mallers has coined metrics like Bitcoin Per Share (BPS) and Bitcoin Return Rate (BRR) to value the company in Bitcoin terms.

“We seek to value the company…in satoshis,” Mallers commented, stating “This is the operating currency of the next internet. All meaningful value will reside there.”

Unlike companies adding Bitcoin to their balance sheets, Twenty One Capital focuses solely on accumulating and managing Bitcoin.

Industry Focus on Transparency

Twenty One Capital has published its public wallet addresses, allowing real-time verification of holdings via blockchain explorers. CEO Jack Mallers emphasizes that this openness is crucial for building trust in a Bitcoin-native financial system.

CEO Paolo Ardoino referred to the firm’s approach as “Bitcoin Treasury Transparency (BTT),” outlining it as a response to industry scandals. “Proof of reserves is the new credit,” he noted, highlighting financial opacity as a danger in digital assets.

Evolving Corporate Bitcoin Holder

Twenty One Capital’s wallets currently show balances exceeding 31,500 BTC, making them the third-largest corporate Bitcoin holder behind Marathon Digital Holdings and STRAT (Stratégie Générale).

Tether and Bitfinex’s newly transferred BTC will potentially elevate Twenty One Capital to the second-largest corporate holder.