Surge on the stock market sparked by latest Bitcoin venture: 100% growth!
Rewriting Cantor Equity Partners' Bitcoin Surge
Cantor Equity Partners (CEP) experienced an extraordinary leap, soaring by 100% in value in a single day, after news broke about its fresh focus on Bitcoin. At the time of writing, CEP shares were trading at around $33, but they skyrocketed by a staggering 300% in just 24 hours. This tremendous spike catapulted CEP to the forefront of the competitive market. For context, during the same period, the S&P 500 index only increased by 1.2%, while the Nasdaq Composite saw a rise of 1.64%.
Looking deeper into the situation, we find that CEP is partnering with heavyweight players to launch a new investment called "Twenty One," backed by SoftBank and Tether. This investment employs the Special Purpose Acquisition Company (SPAC) model, with Twenty One as the newly formed entity within this structure. In January, $200 million was raised for this venture.
A Huge Boost from SoftBank, Tether, and Bitfinex,
Newsy Bits:- SoftBank invests a whopping $900 million in Bitcoin, buying it at approximately $85,000.- Tether chips in with a cool $1.5 billion, whereas Bitfinex contributes $600 million to the project.
In other exciting Bitcoin news, we've learned that Twenty One will launch with over 42,000 Bitcoin, making it the world's third-largest Bitcoin treasury. With the additional capital raised, Twenty One plans to purchase more Bitcoin. Jack Mallers, co-founder of Twenty One, will serve as CEO, and the company aims to increase Bitcoin ownership per share, develop innovative Bitcoin-native financial products, and produce engaging Bitcoin-focused media content. After the deal is closed, Twenty One will list on Nasdaq under the ticker symbol "XXI."
Notably, the surge in Cantor Equity Partners' shares resembles the trends typically seen with meme stocks.
- Cantor Equity Partners' dramatic rise in value, represented by shares trading at around $33 but skyrocketing by 300% in a day, can be attributed to the firm's focus on Bitcoin.
- The partnership between Cantor Equity Partners, SoftBank, and Tether is facilitating a new investment called "Twenty One," a venture that aims to create Bitcoin-native financial products and media content.
- Technology giant SoftBank has invested a significant sum of $900 million in Bitcoin, while Tether has contributed $1.5 billion and Bitfinex added $600 million to the project.
- With over 42,000 Bitcoin in its treasury and additional funds raised, Twenty One plans to expand its Bitcoin ownership and further invest in the leading cryptocurrency.
