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Shares in Cantor Equity Partners, a blank check company led by President Trump’s Secretary of Commerce, have come to Soar after announcing plans on Wednesday to form the world’s third largest corporate Bitcoin Treasury.
Cantor will fuse with Twenty One. TwentyOne owns 42,000 bitcoins and is owned by Stablecoin Issuer Tether and its associated Exchange Bitfinex.
21 follows in the footsteps of the strategy of Michael Saylor, the world’s largest corporate owner of Bitcoin.
Wall Street has acquired a new Bitcoin Treasury Department.
Cantor Equity Partners stock (CEP) – A blank check company led by Brandon Lutnick, the son of President Trump’s Secretary of Commerce – On Thursday, it announced a deal to take 50% off and release “Bitcoin Native” 21 “newly formed entities” via SPAC merger. Since its announcement on Wednesday, the stock has risen by more than 200%.
Twenty One is set to be released for over 42,000 Bitcoin, the world’s third largest company, Bitcoin Treasury. The company is majority owned by Stablecoin issuer Tether and its associated Exchange Bitfinex, which supplies 31,500 Bitcoin. Investment holding company SoftBank has agreed to purchase a portion of Tether’s shares in order to acquire “minority ownership.”
On the pitch to individual investors, the company said it would “use Bitcoin to generate returns for shareholders and profit from the possibility of Bitcoin rising prices.”
The Trump administration was a part of the company’s pitch. In March, Trump ordered the establishment of a Bitcoin Reserve, advocating for Congress and federal agencies to develop a regulatory framework for cryptocurrency.
21 follow in the footsteps of Michael Saylor’s strategy.MSTR), previously MicroStrategy, and in recent years have transformed into a company that issues stocks to collect bitcoin from companies that create software. Beyond Bitcoin accumulation, Twenty One plans to “accelerate Bitcoin adoption” at the corporate and sovereign levels through media operations and develop “Bitcoin-related finance and advisory services.”
The company will be led by Jack Mallers, founder and CEO of payment platform Strike. The company said Maraz was “one of Bitcoin’s most influential supporters” and “is “instrumental” in El Salvador’s decision to become the first country to recognize Bitcoin as a Fiat currency.”
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