$730M Bitcoin Withdrawal from Bitfinex Tied to Twenty One Capital Investment

Bitfinex made headlines Monday with the withdrawal of 7,000 Bitcoins, worth around $730 million at current prices. According to Bitfinex CTO and Tether CEO Paolo Ardoino, the transaction is part of the exchange’s investment in Twenty One Capital, a newly launched Bitcoin-focused treasury firm.

Twenty One Capital, backed by Tether, Bitfinex, and Cantor Fitzgerald, is aiming to become one of the largest institutional Bitcoin holders. The firm launched with support from Japanese investment giant Softbank and is planning to manage up to 42,000 BTC—currently valued at $4.4 billion. This would position it as the third-largest corporate Bitcoin holder globally.

In May, Tether purchased approximately $460 million worth of Bitcoin for the firm, continuing its aggressive treasury strategy. The company brands itself as a “pure play Bitcoin business,” distancing itself from crypto diversification trends. Strike CEO Jack Mallers, who leads the venture, emphasized that Strike and Twenty One Capital are separate entities, connected only by a shared vision for Bitcoin’s global impact.

Mallers has been vocal about drawing inspiration from Michael Saylor’s Bitcoin accumulation strategy. He believes Twenty One Capital can bring in substantial capital while remaining nimble enough to scale quickly. The company also plans to go public via a SPAC, further signaling its long-term ambitions in the institutional Bitcoin space.

As Bitcoin adoption accelerates among institutions, the move signals a growing trend of traditional finance merging with crypto-native innovation. With backing from major players and a laser focus on Bitcoin, Twenty One Capital is poised to become a key force in the evolving digital asset landscape.