1 month ago
Shares of Cantor Equity Partners (CEP) surged 55% connected Tuesday and are up an further 15% successful pre-market trading, trading beneath $19.
The skyward question was driven by capitalist optimism astir its projected merger with Twenty One Capital a bitcoin (BTC) autochthonal concern conveyance backed by Tether, Bitfinex, and SoftBank.
Led by Strike CEO Jack Mallers and Brandon Lutnick, Twenty One Capital is being positioned arsenic a nationalist proxy for bitcoin, perchance holding implicit 42,000 BTC astatine motorboat and introducing metrics similar Bitcoin Per Share (BPS) and Bitcoin Return Rate (BRR) to measurement shareholder worth successful BTC terms.
According to the latest pro forma ownership tables, Tether volition power 42.8% of equity and 51.7% of voting power, portion Bitfinex and SoftBank clasp 16.0% and 24.0% of the institution respectively, post-convert. Public SPAC shareholders volition clasp conscionable 2.7% ownership, underscoring the utmost dilution but important upside if BTC rises.
With BTC trading adjacent $94,000, and the entity holding astir $4B successful BTC exposure, investors are re-rating CEP arsenic a high-leverage stake connected organization bitcoin adoption. The banal is acceptable to re-list nether ticker “XXI” erstwhile the merger is finalized.
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