Twenty One Sets its Sights on 43,500 BTC Reserve Before IPO

Twenty One is set to increase its Bitcoin reserves to 43,500 BTC ahead of its market debut. The company is backed by Tether and the son of the U.S. Secretary of Commerce. It will receive an additional 5,800 BTC from Tether and institutional investors, bringing its total holdings to the third-largest among corporate Bitcoin holders after Michael Saylor's Strategy and MARA Holdings. Created with support from Tether, Bitfinex, SoftBank, and Brandon Latinik, the son of U.S. Commerce Secretary Howard Latinik, Twenty One plans to go public via merger with Cantor Equity Partners, a SPAC. The company's average purchase price was $87,280 per Bitcoin. Upon listing, its shares will trade under the ticker XXI, with major shareholders including Tether and Bitfinex. Bitcoin reserves will be transparently stored and verified in real-time. Additionally, the company will introduce a metric called BPS (Bitcoin per Share), indicating the Bitcoin share per share, estimated at around 12,559 satoshis per share at listing.