One of the key driving forces for the overall direction of Bitcoin to reach new heights is listed companies or potential listed companies that use Bitcoin as their asset allocation, namely replica "micro strategies". In addition to the already announced GME and DJT, another potential buying opportunity worth paying attention to is Twenty One Capital, a company jointly invested by Softbank and Tether, which may be a company that Tether wants to whitewash and submit its investment proposal. one ️⃣ The combination of the most profitable company in the cryptocurrency industry and tech investment giants Twenty One Capital Group was established in April 2025 as a newly formed entity through a merger with Cantor Equity Partners (CEP), a special purpose acquisition company under Cantor Fitzgerald. Its goal is to establish a Bitcoin native company with a plan to start with assets of over 42000 bitcoins, with the mission of maximizing the Bitcoin Ownership Per Share per share, known as a replica micro strategy. The big investors behind it are Tether and SoftBank Group. After the merger is completed, Twenty One Capital will be majority owned by Tether and its affiliates, while SoftBank Group will hold a significant minority stake. two ️⃣ The core figure of the transaction is the son of a high-ranking American official The key figure in facilitating this transaction is Brandon Lutnick, the current chairman of Kantor Group, who facilitated the establishment of Twenty One Capital through his subsidiary SPAC. Brandon Lutnick is the son of Howard Lutnick, former CEO of Cantor Fitzgerald (now US Secretary of Commerce), and currently serves as Chairman and CEO of Cantor Equity Partners. three ️⃣ Mode of contribution The initial quantity that the company plans to hold is 42000 bitcoins, valued at approximately $3.6 billion based on the $85000 bitcoins at the time of its establishment announcement. Among these 3.6 billion US dollars, Tether has invested approximately 600 million US dollars in Bitfinex, a Bitcoin asset with an investment of 1.6 billion US dollars; SoftBank Group, as a strategic investor, has invested approximately $900 million. The above three parties constitute the main investors and shareholders of Twenty One Capital. In addition to its core shareholders, the company has also raised approximately $585 million in additional capital through convertible bonds and additional issuance of PIPE. four ️⃣ Asset holdings Twenty One Capital's Bitcoin holdings have undergone multiple updates. The following is a detailed record of key time points: Initial Position: Based on http://bitcointreasuries.net And official website http://xxi.money As of April 23, 2025, Twenty One Capital reported holding 31500 BTC, which was the initial position held by Cantor Equity Partners. Purchase on May 9, 2025: Tether purchased 4812 BTC at an average price of $95319.83, totaling approximately $458.7 million. After this purchase, as of May 13, 2025, the total holding is 31500+4812=36312 BTC. Transfer on June 2nd and 3rd, 2025: According to the X post by Tether CEO @ paoloardoino Ardoino, Tether and Bitfinex made multiple transfers on June 2nd and 3rd, 2025, totaling 37229.69 BTC, including: June 2, 2025: 4812.22029710 BTC (initial conversion/equity financing), 14000 BTC (Tether investment), 7000 BTC (Bitfinex investment), totaling 25812.22029710 BTC. June 3, 2025: 10500 BTC (SoftBank investment)+917.47360612 BTC (option conversion investor), totaling 11417.47360612 BTC. Current total: 25812.22029710+11417.47360612=37229.69390322 BTC. The official plan shows that after the merger is completed, the holdings will exceed 42000 BTC, so there are still about 4770 BTC (equivalent to 505 million US dollars) that have not been invested or transferred, possibly due to the merger not being completed or the funds not yet fully in place. The officially announced position addresses have been summarized below in the TG subscription channel ⬇️：