Tether Transfers 10,500 BTC to Pre-Fund SoftBank’s Investment in Bitcoin Firm XXI, Highlighting Institutional Adoption
Tether, the issuer of USDT, has transferred 10,500 Bitcoin (BTC), worth approximately $1.1 billion, from Bitfinex’s hot wallet to a designated address as part of pre-funding for SoftBank’s investment in Bitcoin-focused treasury platform Twenty One Capital (XXI). This move, announced by Tether CEO Paolo Ardoino, forms part of a larger capital buildup for XXI, which aims to hold over 42,000 BTC in its treasury and is co-owned by Tether, Bitfinex, Cantor Fitzgerald, and Strike’s Jack Mallers. Unlike traditional deals involving fiat, this transaction was settled directly with BTC, underlining the growing integration of digital assets within institutional portfolios. XXI plans to list on Nasdaq under ticker XXI, and is adopting a HODL strategy similar to other major corporate Bitcoin holders. The involvement of heavyweights like SoftBank and Cantor Fitzgerald, and the use of Bitcoin as the investment asset, signal rising institutional confidence and mainstream acceptance of Bitcoin. These large-scale moves could enhance market sentiment, deepen liquidity, and contribute to the long-term stability and growth of the crypto market.
Bullish
This high-profile BTC transfer by Tether, involving significant institutional players like SoftBank, Cantor Fitzgerald, and Bitfinex, reinforces strong institutional commitment to Bitcoin. The direct use of BTC for settlement, expansion of corporate treasuries, and strategic sector partnerships indicate growing mainstream acceptance and integration of digital assets. These factors are likely to boost trader confidence, improve liquidity, and foster positive market sentiment for Bitcoin, pointing to both short-term bullish momentum and long-term stability.