23-4-2025 – A new bitcoin-focused investment venture is taking shape under the leadership of Brandon Lutnick, whose father chairs both the US Commerce Department and Cantor Fitzgerald.
The ambitious project, christened 21 Capital, represents a remarkable confluence of traditional finance and digital assets, with an initial bitcoin holding valued at $3 billion. This venture emerges through Cantor Equity Partners, a special purpose acquisition company that secured $200 million in funding earlier this year.
The endeavour has attracted heavyweight backing from across the financial spectrum. Japanese investment giant SoftBank has pledged $900 million, whilst cryptocurrency stalwarts Tether and Bitfinex have committed $1.5 billion and $600 million respectively. The venture’s architects aim to secure an additional $550 million through bonds and private equity channels to expand their bitcoin portfolio.
The timing proves particularly noteworthy, as bitcoin trades near $92,000 amidst a resurgent cryptocurrency market under the current American administration. The investment structure mirrors the successful approach pioneered by MicroStrategy, with plans to convert bitcoin holdings into equity at a $85,000 per coin valuation.
Intriguingly, the elder Lutnick’s perspective on Tether has evolved since his Senate testimony, where he addressed questions about the stablecoin issuer’s liquidity. This relationship carries added significance given Cantor Fitzgerald’s role as a primary custodian for Tether’s US Treasury holdings.
Whilst the Financial Times reports the formal announcement is imminent, sources indicate the final details remain subject to adjustment.
