TLDR
- Brandon Lutnick Launches $3B Bitcoin Power Play
- Cantor Backs Massive BTC SPAC with Tether & SoftBank
- 21 Capital Prices Bitcoin at $85K in Bold New Bet
- Trump-Era Crypto Boom Sparks $3B BTC Venture
- Bitfinex & Tether Return Big with 21 Capital Push
Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick and chairman of brokerage firm Cantor Fitzgerald, is leading a new multibillion-dollar Bitcoin initiative. According to a Financial Times report, Lutnick is partnering with Tether, SoftBank, and Bitfinex to form 21 Capital, a digital asset acquisition firm backed by $3 billion in Bitcoin.
BREAKING: WALL STREET GIANT CANTOR FITZGERALD RAISING $3 BILLION TO CREATE A “MASSIVE STOCKPILE OF #BITCOIN”
THEY WANT TO COMPETE WITH MICROSTRATEGY. MASSIVE 🔥 pic.twitter.com/lqY0saxdzE
— The Bitcoin Historian (@pete_rizzo_) April 22, 2025
The venture will operate under Cantor Equity Partners, a special purpose acquisition company (SPAC) that raised $200 million in January 2025. 21 Capital will receive Bitcoin contributions totaling $3 billion from its partners: $1.5 billion from Tether, $900 million from SoftBank, and $600 million from Bitfinex. This move aligns with the Trump administration’s crypto-friendly stance, which is expected to accelerate digital asset adoption in the U.S.
Capital Structure and Strategy of 21 Capital
21 Capital plans to raise additional funds through a $350 million convertible bond and a $200 million private equity placement. The firm will convert these contributions into shares valued at $10 each, effectively pricing Bitcoin at $85,000 per coin. This structure mirrors the investment strategy of MicroStrategy, a former software company holds over $13 billion in Bitcoin assets.
The consortium’s goal is to replicate the success of MicroStrategy by creating a publicly traded firm with a significant Bitcoin holding. Market sources suggest that the deal could be announced in the coming weeks, although the structure and valuation figures may still change.
Cantor Fitzgerald’s Broader Crypto Expansion
The new Bitcoin acquisition vehicle is part of Cantor Fitzgerald’s broader digital asset expansion. The firm has previously advised Tether on a $775 million investment in video-sharing platform Rumble and has supported the development of a proposed $2 billion Bitcoin-backed lending program in partnership with Tether.
Cantor has established two more SPACs under the Brandon Lutnick, with all entities actively seeking opportunities in the digital asset and fintech sectors. The brokerage has also begun utilizing crypto platforms maintained by Anchorage Digital and Copper to expand its market infrastructure.
Market Implications and Regulatory Background
The venture enters the market at a time when Bitcoin is trading near historic highs, fluctuating around $92,000 after peaking at $106,000 in the wake of President Trump’s re-election. The administration has expressed strong support for blockchain innovation and aims to integrate cryptocurrency within mainstream financial frameworks.
Tether and Bitfinex, both under the same corporate ownership, previously settled major regulatory probes with the New York Attorney General and the Commodity Futures Trading Commission in 2021. Their renewed involvement in large-scale crypto initiatives signals a return to active market participation under a more favorable U.S. regulatory environment.
