Shares of Cantor Equity Partners (CEP) surged 50% on Thursday, after the announcement of a $3.6 billion SPAC merger with Twenty One Capital, which is a new Bitcoin-focused company. The entity is backed by major players like Tether, Bitfinex, SoftBank, and Cantor
CEP Stocks Soar!
Presently, CEP stock is up 134% over the past week, closing at $24.80, after a 50% spike on Thursday, which reflects a serious vote of confidence for the firm.
The merger will result in Twenty One Capital going public with over 42,000 bitcoins—valued at approximately $3.9 billion—making it the third-largest corporate Bitcoin holder globally.
Cantor Fitzgerald is the firm behind custodying Tether’s reserves, which supports the successful USDT stablecoin.
The company aims to offer investors exposure to Bitcoin without directly holding the asset, provide Bitcoin-related financial services, and create crypto-related content and media. Moreover, Twenty One will trade under the ticker XXI. Notably, Jack Mallers, CEO of Bitcoin payments company Strike, will lead the new firm. Also, Brandon Lutnick, who took over as chair of Cantor Fitzgerald after his father stepped down to join the Trump administration, will oversee this new venture too.
Speaking of the funds distribution, Tether is expected to contribute $1.5 billion, while SoftBank and Bitfinex are set to add $900 million and $600 million respectively. Note that Tether and Bitfinex share ownership and leadership structures. Additional funding will come from a $350 million convertible bond and a $200 million private equity placement, aimed at further bitcoin purchases.
Overall, CEP’s move to follow the suit of MicrosStrategy has certainly seemed to benefit investors, showing investor optimism about the growing institutional interest in Bitcoin and cryptocurrency-related ventures. As for Microstrategy, the firm’s stocks too have seen an uptick of 4.61 points (1.33%) and closed at 350.34 and MicroStrategy owns 538,200 bitcoins as of April 21, 2025.
Also Read: Metaplanet Acquires 696 BTC, Reveals Reaching ¥770M Q1 Revenue
