Cantor Fitzgerald-backed Twenty One Capital has significantly increased its Bitcoin (BTC) holdings, expanding its treasury beyond the amount announced at launch, highlighting the accelerating race to accumulate the digital asset.
The Bitcoin treasury firm, which launched in April with a mission to amass the digital asset, has added approximately 5,800 BTC from stablecoin issuer Tether, Bloomberg reported on Tuesday.
By Bloomberg’s estimation, Twenty One Capital’s total Bitcoin holdings have now reached at least 43,500 BTC, roughly 1,500 BTC more than the company had initially projected.
At current prices, Twenty One’s Bitcoin holdings are worth roughly $5.13 billion.
In addition to its ties to Cantor Fitzgerald, Twenty One Capital is backed by crypto firms Tether and Bitfinex, along with venture capital giant SoftBank. Its planned merger with special purpose acquisition company (SPAC) Cantor Equity Partners will pave the way for Twenty One Capital to go public.
As Cointelegraph reported on June 3, Tether transferred 37,229.69 BTC to addresses associated with Twenty One Capital as part of the company’s initial Bitcoin commitment.
The firm is led by Strike CEO and Bitcoin advocate Jack Mallers.
Related: Strategy expands preferred stock offering to $2B amid Bitcoin-fueled rally — Report
The rise of Bitcoin treasury companies
Twenty One Capital is one of several firms accumulating Bitcoin in the wake of Michael Saylor’s Strategy, which has acquired over 607,000 BTC since mid-2020.
Unlike Strategy and other companies, however, Twenty One Capital has not relied on debt to finance its Bitcoin purchases. Even so, its holdings are quickly approaching those of Bitcoin miner MARA Holdings, which has amassed 50,000 BTC.
Alongside MARA, Bitcoin miners Riot Platforms, CleanSpark and Hut 8 rank among the largest corporate BTC holders. As Cointelegraph reported, this reflects a growing “hodl strategy” that resurfaced in 2024, with miners opting to hold onto a significant share of their mined Bitcoin, partly in anticipation of future price gains.
Beyond mining firms, several non-crypto companies have also added Bitcoin to their balance sheets, including Japanese textile manufacturer Kitabo, medical technology firm Semler Scientific and electric powersports company Volcon.
Magazine: Crypto traders ‘fool themselves’ with price predictions: Peter Brandt
