Tether Transfers 10,500 Bitcoin for SoftBank’s Investment in Twenty One Capital
Tether has transferred 10,500 Bitcoin from Bitfinex's hot wallet to a new address, valued at approximately $1.1 billion based on the current price of $105,331.39 per BTC. This transaction is part of the pre-funding for SoftBank's investment in Twenty One Capital (XXI).
Key Points
- SoftBank's investment involves additional transfers linked to Twenty One Capital.
- In total, 37,229 BTC, nearly $4 billion, has been transferred recently.
- The Bitcoin allocation aims to support Twenty One Capital's operations.
- Tether and Bitfinex previously invested 25,812 BTC, around $2.7 billion, into Twenty One Capital.
- Twenty One Capital, founded by Brandon Lutnick, focuses on holding Bitcoin rather than speculative trading.
- The firm aims to accumulate over 42,000 BTC and plans to list on Nasdaq under ticker XXI.
- As of mid-May, its total Bitcoin holdings reached 36,312 BTC.
- Twenty One Capital intends to adopt a strategy similar to that of Strategy, which holds 580,955 BTC.