By USA Goldmines TLDR
- Cantor Fitzgerald is launching a $3 billion Bitcoin acquisition vehicle called 21 Capital with SoftBank, Bitfinex, and Tether
- Tether will contribute $1.5 billion, SoftBank $900 million, and Bitfinex $600 million to the Bitcoin fund
- Brandon Lutnick, son of US Commerce Secretary Howard Lutnick, will lead the new venture
- The partners will convert their Bitcoin to shares at a valuation of $85,000 per coin
- The venture appears to mirror MicroStrategy’s approach of using a publicly traded vehicle to accumulate Bitcoin
Cantor Fitzgerald is launching a new $3 billion Bitcoin acquisition vehicle called 21 Capital in partnership with Tether, SoftBank, and Bitfinex. According to a Financial Times report, the new venture aims to create a publicly traded alternative to MicroStrategy, which has built a large Bitcoin treasury.
The plan involves pooling resources from all partners. Tether has committed $1.5 billion worth of Bitcoin to the venture. Japanese investment giant SoftBank will contribute $900 million, while Bitfinex will add $600 million to complete the $3 billion fund.
Brandon Lutnick will lead 21 Capital. He is the son of Howard Lutnick, the current US Commerce Secretary and Chairman of Cantor Fitzgerald. The venture will operate through Cantor Equity Partners, a special-purpose acquisition company (SPAC) that raised $200 million in January 2025.
The partners will convert their Bitcoin investments into 21 Capital shares at $10 per share. This values Bitcoin at approximately $85,000 per coin for the purpose of the deal. The venture will also raise an extra $350 million through a convertible bond offering.
Structure and Goals of 21 Capital
21 Capital aims to provide investors with a publicly listed vehicle that tracks Bitcoin’s performance through direct holdings. This model is similar to MicroStrategy’s approach of using debt and equity to build a Bitcoin treasury.
MicroStrategy has become a Bitcoin powerhouse. The company has acquired over 530,000 BTC worth $36.4 billion, though its share price has dropped 20% from record highs reached in November.
Syncracy Capital co-founder Ryan Watkins described Cantor’s new venture as an attempt to mirror MicroStrategy’s Bitcoin accumulation blueprint.
“So another MicroStrategy clone, by Cantor, SoftBank, and Tether, with $550M of dry powder to start,” said Watkins. “One is an outlier, two is a trend. Dozens starts to look like bubble behavior.”
The new venture looks to capitalize on what backers see as a renewed crypto bull market under the Trump administration. The timing aligns with the administration’s more open stance toward cryptocurrency trading.
Cantor’s Growing Crypto Involvement
Cantor Fitzgerald has been expanding its presence in the cryptocurrency sector. In November 2024, the company announced plans for a $2 billion Bitcoin lending program in partnership with Tether.
By March 2025, Cantor revealed it would utilize crypto platforms maintained by Anchorage Digital and Copper. The firm also manages Tether’s reserves, with the stablecoin issuer previously expressing interest in investing in Cantor’s Bitcoin financing business.
These moves coincide with President Trump’s appointment of Howard Lutnick as Commerce Secretary in November. Lutnick, who worked at Cantor for over four decades, is known to be favorable toward cryptocurrencies.
Some argue that Cantor’s Bitcoin acquisition plan aligns with Trump’s decision to launch a Strategic Bitcoin Reserve. Trump’s executive order requires Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent to acquire Bitcoin in budget-neutral ways.
The deal, expected to be announced in the coming weeks, comes as Bitcoin’s price recently reached a two-week high of $93,000. The cryptocurrency had peaked at around $106,000 earlier this year following Trump’s election victory, before falling to $79,000 and then recovering.
While the launch appears imminent, the Financial Times report notes that the deal may not materialize, and the figures remain subject to change.
The post Bitcoin Bulls Unite: Cantor Fitzgerald’s $3 Billion Crypto Power Move appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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