
Cantor Fitzgerald, a financial services firm, is venturing into the Bitcoin acquisition business by creating a new company called Twenty One Capital. This initiative is being led by Brandon Lutnick, son of former U.S. commerce secretary Howard Lutnick. The new company will be partially owned by Tether, Bitfinex, and SoftBank, and aims to allow investors to access Bitcoin's price movements without directly investing in the currency.
Twenty One Capital plans to launch publicly with more than 42,000 Bitcoin, worth around Rp 65.78 ribu ($4) billion. The company has agreements to raise an additional Rp 9.62 triliun ($585 m) illion in capital for further Bitcoin purchases. The initiative is inspired by the success of Strategy, formerly known as Microstrategy, which has seen significant stock growth due to its Bitcoin acquisitions.
However, not all companies have been successful in their Bitcoin ventures. GameStop, for example, saw an initial surge in stock price but later experienced a decline. Despite these mixed results, Cantor Fitzgerald aims to accelerate Bitcoin adoption and literacy through Twenty One Capital, making it a significant player in the cryptocurrency market.