Cantor Fitzgerald, along with major players such as Tether, Bitfinex, and SoftBank, is initiating a new Bitcoin-related project valued at $3 billion.
Creation of 21 Capital
The partnership will lead a new publicly traded investment project named 21 Capital, which will receive $3 billion in Bitcoin from participating firms. Tether will contribute $1.5 billion, while SoftBank and Bitfinex will add $900 million and $600 million, respectively.
Capital Raising Strategy
In addition to these contributions, there are plans to raise an additional $350 million through a convertible bond and $200 million in a private equity round for acquiring more Bitcoin. The primary goal of this project is to offer investors a vehicle that directly reflects Bitcoin's performance.
Prospects and Leadership of the Initiative
The initiative will be led by Brandon Lutnick, the newly appointed chair of Cantor Fitzgerald. His aim is to position 21 Capital at the center of what many supporters believe will be a new crypto bull market. The contributing firms will receive equity in 21 Capital valued at $85,000 per Bitcoin. An official announcement about the project is expected in the coming weeks.
The launch of 21 Capital showcases the growing interest in investments in Bitcoin and the participants' confidence in the ongoing rise of the cryptocurrency market.
