Cantor Equity Partners Pops as Investors Bet Big on Bitcoin-Backed Merger
Cantor Equity Partners (CEP) is turning heads this week, soaring 55% on Tuesday and gaining another 15% in pre-market action as traders pile in ahead of a potential high-profile merger with Twenty One Capital.
The buzz centers around CEP’s proposed combination with Twenty One Capital, a Bitcoin-native investment entity backed by crypto heavyweights Tether and Bitfinex, alongside tech investor SoftBank. The venture, spearheaded by Strike CEO Jack Mallers and Brandon Lutnick, aims to become a public vehicle for Bitcoin exposure, possibly launching with more than 42,000 BTC—worth nearly $4 billion at current prices.
Twenty One Capital is set to introduce Bitcoin-centric metrics like Bitcoin Per Share (BPS) and Bitcoin Return Rate (BRR), reshaping how shareholder value is measured—directly in terms of BTC.
Pro forma ownership details show Tether emerging with a dominant 42.8% equity stake and 51.7% of the voting power. Bitfinex and SoftBank would control 16.0% and 24.0%, respectively, while public SPAC shareholders would hold just 2.7%—highlighting significant dilution but massive upside if Bitcoin continues its upward trajectory.
With Bitcoin hovering around $94,000, investors are treating CEP as a high-beta play on institutional BTC adoption. Once the deal is complete, the merged entity will rebrand and trade under the ticker symbol “XXI.”
