Shares of Cantor Equity Partners (CEP) rose 55% on Tuesday and are an additional 15% in pre-market trading and traded under $ 19.
The Skyward movement was driven by investor optimism around its proposed merger with 21 capital a Bitcoin (BTC) Native investment vehicle supported by Tether, BitFinex and Softbank.
Led by Strike CEO Jack Mallers and Brandon Lutnick, Twenty One Capital is placed as a public power of attorney for Bitcoin, potentially holding over 42,000 BTC at launch and introducing measurements such as Bitcoin per share (BPS) and Bitcoin Return Rate (BRR) to measure share value in BTC.
According to the latest Pro Forma ownership tables, Tether will control 42.8% of equity and 51.7% of voting power, while BitFinex and Softbank own 16.0% and 24.0% of the company, post-converter respectively. Public SPAC shareholders will retain only 2.7% ownership and emphasize the extreme dilution, but significant upside if BTC rises.
With BTC trading near $ 94,000, and the device that has almost $ 4B in BTC exposure, investors are re-evaluated CEP as a bet with high leverage on institutional Bitcoin decision. The stock is set to re -list under Ticker “XXI” when the merger is completed.
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