New Bitcoin Investment Company Twenty One Launches with $4 Billion BTC Holdings
SoftBank, Tether, and Cantor Fitzgerald are launching a bitcoin investment company named Twenty One, aimed at holding bitcoin as its primary asset. This company plans to start with over 42,000 BTC, valued around $4 billion, making it the third-largest publicly held bitcoin treasury at launch.
Key points include:
- Twenty One could impact Michael Saylor's company, MSTR, by competing for market share.
- TD Cowen analysts view this launch as validation of Saylor's strategy, suggesting it may attract institutional investors to his approach.
- TD Cowen maintains a $550 price target for MSTR, predicting it could hold 757,000 BTC by fiscal year 2027.
- If bitcoin reaches an average price of $170,000, MSTR's holdings could be worth $129 billion.
- Shares of Cantor Equity Partners (CEP), associated with Twenty One, have surged by up to 130% since the announcement.
This development reflects a bullish sentiment in the market towards bitcoin investments.