Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick, is leading a new venture called 21 Capital that aims to acquire $3 billion in Bitcoin. This initiative is backed by partners including SoftBank, Tether, and Bitfinex, contributing $1.5 billion, $900 million, and $600 million, respectively. The plan hopes to emulate the success of other public companies investing heavily in Bitcoin, like MicroStrategy. Contributions will be converted into shares at a valuation of $85,000 per Bitcoin, with the venture operating through Cantor Equity Partners, following its prior successful SPAC launch. While an announcement is anticipated soon, the feasibility of the deal remains uncertain as discussions are ongoing. The consortium is expected to create a significant public alternative in the cryptocurrency investment landscape just as Bitcoin prices have shown considerable recovery, with current figures around $92,000.

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