<\/p>\n
Tether has acquired SoftBank\u2019s entire stake in Twenty One Capital, the Bitcoin treasury company co-founded by Jack Mallers, and is now pushing a broader merger plan involving Strike and Elektron Energy.<\/p>\n
<\/p>\n
Tether has moved to absorb all of SoftBank\u2019s ownership in Twenty One Capital, tightening its hold over one of the market\u2019s most aggressive public Bitcoin treasury vehicles and reducing what had been one of the company\u2019s few major outside ownership blocs.<\/p>\n
When Twenty One Capital<\/a> was unveiled in April 2025 through a business combination with Cantor Equity Partners, the company said it expected to launch with more than 42,000 BTC, which at the time would have made it the third-largest corporate Bitcoin treasury in the world, with an implied enterprise value of $3.6 billion based on a 10-day average Bitcoin reference price of $84,863.57.<\/p>\n In the launch announcement, CEO Jack Mallers said, \u201cMarkets need reliable money to measure value and allocate capital efficiently,\u201d adding, \u201cWe believe that Bitcoin is the answer, and Twenty One is how we bring that answer to public markets.\u201d Tether CEO Paolo Ardoino said, \u201cTwenty One will take a Bitcoin-first approach that aligns with our vision\u2014prioritizing accumulation over speculation and building long-term value for those who understand what Bitcoin represents.\u201d<\/p>\n The SoftBank buyout matters because it shifts Twenty One further away from a three-party sponsorship model and closer to functioning as Tether\u2019s public Bitcoin operating arm, while Bloomberg<\/a> reported that Tether has also proposed combining the company with Strike<\/a> and Elektron Energy to create a larger Bitcoin-focused group.<\/p>\n That proposal would give the combined entity a treasury, a payments and financial services layer, and mining infrastructure under one umbrella, turning Twenty One from a pure balance-sheet Bitcoin play into something closer to an integrated Bitcoin holding company.<\/p>\n <\/p>\n In a previous crypto.news story, Tether added 4,812 BTC worth about $458.7 million to Twenty One\u2019s treasury ahead of its listing, bringing the total at that stage to 36,312 BTC.<\/p>\n That same crypto.news said Tether was expected to contribute 23,950 BTC, SoftBank 10,500 BTC and Bitfinex about 7,000 BTC, all converted into shares priced at $10 each.<\/p>\n Another crypto.news story framed Twenty One as a direct challenge to Strategy\u2019s corporate Bitcoin model, noting that the company planned to measure performance using metrics such as Bitcoin Per Share and Bitcoin Return Rate instead of conventional earnings benchmarks.<\/p>\n A separate crypto.news story highlighted Jack Mallers\u2019 role as chief executive of the new company, reinforcing that Twenty One was conceived not as a passive treasury wrapper but as a purpose-built Bitcoin-native public market vehicle.<\/p>\n With Bitcoin (BTC) at the center of Tether\u2019s balance sheet, payments ambitions and public equity strategy, buying out SoftBank\u2019s stake in Twenty One looks less like a portfolio adjustment and more like a deliberate consolidation of power around a Bitcoin corporate stack.<\/p>\n <\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Tether has acquired SoftBank\u2019s entire stake in Twenty One Capital, the Bitcoin treasury company co-founded by Jack Mallers, and is now pushing a broader merger plan involving Strike and Elektron…<\/p>\n","protected":false},"author":1,"featured_media":11905,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-29204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/29204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=29204"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/29204\/revisions"}],"predecessor-version":[{"id":29205,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/29204\/revisions\/29205"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/11905"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=29204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=29204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=29204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Tether pushes beyond a treasury trade<\/h2>\n
Bitcoin empire ambitions widen<\/h2>\n