Bitcoin Treasury Firm Twenty One Debuts on NYSE via SPAC Merger
Following its merger with Cantor Equity Partners SPAC, Twenty One Capital debuted on the NYSE at $10.74, holding $3.9B in Bitcoin and backed by major stakeholders including Tether, Bitfinex, and SoftBank.
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Summary
On December 10, Twenty One Capital completed its merger with Cantor Equity Partners SPAC and debuted on the New York Stock Exchange at $10.74 per share, a 20% drop from $14.27. The Bitcoin treasury firm holds $3.9 billion in BTC, with control held by Tether and Bitfinex, and SoftBank owning a significant minority stake.
Terms & Concepts
- Bitcoin treasury company: A firm that holds Bitcoin as part of its corporate reserves or investment strategy.
- SPAC (special purpose acquisition company): A publicly traded shell company created to acquire or merge with an existing private company, enabling it to go public without a traditional IPO.
- NYSE (New York Stock Exchange): One of the world's largest stock exchanges, located in New York City.