Tether, the stablecoin issuer, has purchased 4,812.22 Bitcoin for $458 million at an average price of $95,319.83 per Bitcoin, marking a significant investment ahead of the launch of its new Bitcoin treasury company, Twenty One. The purchase was made in preparation for Twenty One's planned merger with Cantor Equity Partners, which will see the company listed on the Nasdaq.
Twenty One, led by Jack Mallers, is set to become a publicly traded entity through this SPAC merger. The Bitcoin acquired by Tether will be sold to Twenty One upon the completion of the merger at the same purchase price, contributing to a planned treasury of over 42,000 Bitcoin, valued at approximately $4.4 billion.
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