Cantor Fitzgerald Chair Brandon Lutnick Partners With SoftBank, Tether, And Bitfinex To Launch $3B Bitcoin Firm 21 Capital
Cantor Fitzgerald Chair Brandon Lutnick—the son of US Commerce Secretary Howard Lutnick—is launching a $3 billion Bitcoin investment firm called 21 Capital, backed by SoftBank, Tether, and Bitfinex, the Financial Times reported. The special purpose acquisition company (SPAC), Cantor Equity Partners, raised $200 million at the start of the year. It will now help form 21 Capital with $3 billion in Bitcoin from the crypto giants. The BTC contributions will be converted to equity at a price of $10 per share, implying $85K per Bitcoin, according to the report . 21 Capital Aims To Raise Over $500 Million To Buy More Bitcoin The 21 Capital deal is similar to Strategy’s (formerly MicroStrategy) BTC proxy model. To date, Strategy has issued stocks and speculative debt to purchase Bitcoin. Data from BitcoinTreasuries.net shows that Strategy is currently the largest corporate BTC holder globally, with a stockpile of $534,741 BTC. Lutnick’s new venture aims to f...