Tether Allocates $1.1B in Bitcoin to Support SoftBank's Investment in Twenty One Capital

Tether, the company behind the world’s largest stablecoin, has allocated a massive 10,500 Bitcoin—worth approximately $1.1 billion—to facilitate SoftBank’s investment in Twenty One Capital (XXI), a firm focused on Bitcoin-related financial strategies.

The move was disclosed by Tether CEO Paolo Ardoino, who shared details of the transaction via social media, including a mempool block showing the transfer of the Bitcoin to a known blockchain address. Ardoino confirmed the BTC allocation is part of a broader initiative to back SoftBank’s entry into Twenty One Capital, signaling deeper institutional involvement in Bitcoin-backed ventures.

“Tether Group is moving 10,500 BTC to address bc1qpzt4m58zzqgp84ktyuj5tz8g8k8ssg2g2d5eeerwhx4gxulqq5mqjzm5gc as part of the pre-funding of SoftBank’s investment in Twenty One Capital (XXI),” Ardoino stated.

Shortly after this primary transfer, Tether executed another transaction of 917.47 BTC to a different address also linked to pre-funding for XXI. According to Ardoino, this step is related to an option to convert investors into equity positions in the firm.

The funding illustrates Tether’s expanding role in large-scale institutional crypto transactions, beyond its core business of issuing USDT. It also reflects SoftBank’s growing interest in Bitcoin, as the Japanese investment giant continues to explore blockchain and digital asset opportunities.

The announcement comes amid a minor dip in Bitcoin’s price, which slipped by 0.2% in the past 24 hours. As of June 3, Bitcoin is trading at $105,241, with a market cap of $2.09 trillion, down slightly by 0.14%.