Brandon Lutnick Launches $3 Billion Bitcoin SPAC with Tether and SoftBank
Brandon Lutnick is launching a bitcoin investment vehicle backed by SoftBank, Tether, and Bitfinex. Key points include:
- The special purpose acquisition company (SPAC) named Cantor Equity Partners raised $200 million in January.
- A new firm, 21 Capital, will be formed with $3 billion in bitcoin from Tether and Bitfinex.
- The deal mimics MicroStrategy’s bitcoin proxy model, converting BTC into equity at an $85,000 valuation per coin.
- Tether contributes $1.5 billion, Bitfinex $600 million, and SoftBank $900 million.
- The venture aims to raise an additional $550 million through bonds and private equity for further BTC purchases.
- The SPAC launch aligns with renewed crypto optimism and bitcoin prices near $92,000.
The official announcement is expected soon but may change.