Tether has purchased $458.7 million worth of Bitcoin, acquiring 4,812.2 BTC for Twenty One Capital, a Bitcoin investment firm preparing for a merger with Cantor Equity Partners. This acquisition, made on May 9 and reported in a filing to the SEC, boosts Twenty One's total Bitcoin holdings to 36,312 BTC. The firm, led by CEO Jack Mallers, is already the third largest corporate Bitcoin holder, behind MicroStrategy and Tesla. The merger process is ongoing, though a completion date has not been specified. Tether is known for its stablecoin contributions alongside the support from notable entities like SoftBank, which has invested $900 million, ensuring that Twenty One aims to reach a target of 42,000 BTC from various sources. Despite fluctuations in share prices following the investment announcement, Twenty One Capital is seeking to establish itself as the primary avenue for Bitcoin exposure while prioritizing asset acquisition over traditional profitability measures.

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