Bitcoin Treasury Twenty One Set to Begin Trading on NYSE With $4 Billion BTC Stash

Bitcoin treasury steadfast Twenty One Capital, Inc. has received shareholder support for its concern operation with Cantor Equity Partners (CEP), with CEP shareholders voting successful favour of the projected merger and each related proposals.

The transaction is expected to adjacent astir December 8, pending completion of closing conditions outlined successful regulatory filings with the SEC. Upon completion of the concern operation and associated PIPE financing, the merged entity volition run nether the Twenty One Capital name.

The company's Class A communal banal is anticipated to statesman trading connected the New York Stock Exchange connected December 9, utilizing the ticker awesome XXI. Twenty One Capital has branded itself “the first-ever Bitcoin-native institution that expects to beryllium publically listed.”

“Game on. See you astatine the NYSE connected Tuesday,” Twenty One CEO and co-founder Jack Mallers posted connected X.

In July, Twenty One Capital announced it volition clasp astir 43,500 BTC—currently worthy astir $4 billion—when it begins trading, pursuing an addition of 5,800 BTC from stablecoin elephantine Tether. This positions the steadfast arsenic perchance the third-largest firm Bitcoin holder, down lone Strategy and Bitcoin miner MARA.

Twenty One, which was archetypal announced successful April, is simply a collaborative task betwixt Tether, Bitfinex, Cantor Fitzgerald, and SoftBank. The company’s sanction refers to Bitcoin’s full imaginable proviso of 21 cardinal coins, with astir 19.95 cardinal BTC mined to date.

Cantor Equity Partners banal surged Thursday pursuing the precocious Wednesday announcement, precocious up astir 22% to a terms of $14.50. Even so, CEP remains down astir 66% implicit the past six months aft spiking successful April pursuing the announcement of the projected merger.

Bitcoin Short Positions Build Ahead of Potential Fed Rate Cut

Bitcoin is up astir 2.5% connected the week, precocious trading supra $93,000 aft rebounding from a dive beneath $85,000 connected Monday. BTC has fallen sharply implicit the past 2 months since mounting a caller all-time precocious people supra $126,000 successful aboriginal October, presently down 26% from that peak.

Traders connected Myriad—a prediction marketplace level operated by Decrypt’s genitor company, Dastan—currently springiness a 76% chance that Bitcoin volition emergence to a terms of $100,000 sooner than it tin plunge to $69,000, a level not seen successful much than a year.