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Brandon Lutnick son of US Commerce Secretary Howard Lutnick and chairman of Cantor Fitzgerald is spearheading a $3 billion Bitcoin venture with giants like SoftBank Tether and Bitfinex. This strategic collaboration forms a new company 21 Capital fueled by a pro-crypto shift in US policy under President Donald Trump’s administration. The Financial Times reports this move aligns with efforts to enhance cryptocurrency’s footprint in the financial sector.
21 Capital recently raised $200 million through a SPAC and plans to acquire substantial Bitcoin investments from its partners totaling nearly $3 billion. This funding strategy mirrors the aggressive Bitcoin acquisition tactics of MicroStrategy now known as Strategy which has seen significant growth in its market influence due to its bold investment moves.
The new venture promises to convert its Bitcoin stakes into shares priced at $10 each projecting Bitcoin’s value at $85,000 per coin. Expected to launch soon this move by 21 Capital aims to not only extend Cantor’s influence in digital assets but also solidify a strong position in the burgeoning cryptocurrency market.
