needpix.com
As reported by the media source, SoftBank, Tether, and Bitfinex are prepared to offer bitcoins amounting to $3 billion for the new fund. Lutnick's firm will also secure $350 million in convertible bonds and an extra $200 million via a private placement to acquire more bitcoins. The investment is set to be transformed into shares of 21 Capital at $10 each, which means bitcoin will be valued at $85,000 per coin.
It is likely that the fund 21 Capital aims to replicate the success of Strategy (previously known as MicroStrategy), a former software company that significantly increased in value after investing in bitcoin.
FT notes that the project was initiated by a group overseen by Brandon Lutnick at Cantor Equity Partners, which is the investment branch of Cantor Fitzgerald. In January, the firm has secured $200 million for establishing the company 21 Capital. Nonetheless, the newspaper's sources highlighted that the arrangement of the deal could still be modified, and the agreement might ultimately be revoked.
source: ft.com
It is likely that the fund 21 Capital aims to replicate the success of Strategy (previously known as MicroStrategy), a former software company that significantly increased in value after investing in bitcoin.
FT notes that the project was initiated by a group overseen by Brandon Lutnick at Cantor Equity Partners, which is the investment branch of Cantor Fitzgerald. In January, the firm has secured $200 million for establishing the company 21 Capital. Nonetheless, the newspaper's sources highlighted that the arrangement of the deal could still be modified, and the agreement might ultimately be revoked.
source: ft.com