Fast Facts
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Major Bitcoin Acquisition: Tether purchased 4,812 BTC for $458.7 million, averaging $95,320 per coin, for Jack Mallers’ company, Twenty One Capital.
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Launch of Twenty One Capital: The new treasury company, formed in collaboration with Tether, Bitfinex, and SoftBank, aims to hold over 42,000 BTC and offer Bitcoin lending services, targeting nearly $600 million in funding.
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Corporate Buying Surge: Corporations are leading Bitcoin accumulation, with growth totaling 157,000 BTC (over $16 billion) in 2025, surpassing individual investors and governments.
- Deflationary Bitcoin Trend: Strategy’s aggressive buying has turned Bitcoin into a deflationary asset, outpacing miner output and contributing to a -2.3% annual deflation rate.
Tether Buys $459M in Bitcoin for New Treasury Firm
On May 13, Tether made headlines by purchasing 4,812 Bitcoin for nearly $459 million. This deal, unveiled in a filing with the US Securities and Exchange Commission, represents an average purchase price of about $95,320 per Bitcoin. Notably, this acquisition supports Jack Mallers’ new venture, Twenty One Capital.
Twenty One Capital, launched in April, emerges from a collaboration between Tether, Bitfinex, Cantor Fitzgerald, and SoftBank Group. The firm plans to enter the market through a special purpose acquisition company (SPAC) merger with Cantor Equity Partners. After the merger, Twenty One Capital will trade on the Nasdaq under the ticker XXI.
This ambitious firm will start with more than 42,000 Bitcoin, valued around $4.4 billion. With Tether and Bitfinex as majority stakeholders and SoftBank holding a minority interest, Twenty One Capital positions itself as a significant player in the crypto space. Under the leadership of Mallers, who also leads the Bitcoin payments firm Strike, the company aims to raise nearly $600 million through convertible notes and private-equity investments. It will offer Bitcoin lending services and various financial products, catering to growing consumer demand.
Tether’s recent Bitcoin acquisition follows a strong performance, reporting over $1 billion in revenue in the first quarter of this year. The trend of corporate Bitcoin buying continues to grow. Notably, investment firm Strategy purchased a massive 13,390 Bitcoin for $1.34 billion, while Japanese firm Metaplanet added 1,241 Bitcoin to its holdings.
Bitcoin’s popularity among corporations has outpaced that of retail investors this year. A report from Bitcoin investment firm River states that businesses accumulated 157,000 Bitcoin in 2025, totaling over $16 billion. Furthermore, Bitwise recently noted that a dozen public companies invested in Bitcoin for the first time in the first quarter of 2025, driving a 16% increase in Bitcoin held by publicly traded firms.
As companies explore Bitcoin’s potential, some experts suggest it may become a deflationary asset. CryptoQuant CEO Ki Young Ju highlighted that the rate of Bitcoin acquisition exceeds total miner output, leading to a -2.3% annual deflation rate for the asset.
Tether’s strategic move underscores the growing significance of Bitcoin in corporate finance. As firms increasingly integrate cryptocurrencies into their portfolios, the landscape of technology and finance undergoes a transformative shift.
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