Brandon Lutnick Launches 21 Capital, a $3 Billion Crypto Fund Inspired by MicroStrategy
Brandon Lutnick, son of the US Secretary of Commerce and recently appointed president of brokerage firm Cantor Fitzgerald, is preparing to launch an unprecedented bitcoin investment vehicle in partnership with heavyweights in the crypto industry: SoftBank, Tether, and Bitfinex. The operation, valued at nearly $3 billion, aims to capture the momentum of the digital asset market under the Trump administration, which has shown a more favorable stance towards cryptocurrencies.
Through this project called 21 Capital, Lutnick aims to replicate the rapid trajectory of MicroStrategy, which has become a true ‘bitcoin machine’ after redirecting its focus towards accumulating BTC. With a current market capitalization of over $90 billion, Michael Saylor’s company serves as a model for this new generation of financial vehicles.
An Unprecedented Fundraising Campaign Backed by Major Bitcoin Holders
The operation will be structured around Cantor Equity Partners, a Special Purpose Acquisition Company (SPAC) that already raised $200 million in January. This fund will serve as the launchpad for 21 Capital, to which the partners will directly inject $3 billion in bitcoin: $1.5 billion from Tether, $900 million from SoftBank, and $600 million from Bitfinex. These colossal amounts are expected to be converted into shares at a price of $10 per unit, valuing bitcoin at $85,000 per BTC in the operation.
In parallel, the SPAC plans to carry out a convertible debt offering of $350 million and a private placement of $200 million to further strengthen its bitcoin purchasing power. In the long run, the partners hope to position 21 Capital as an essential public alternative in the world of crypto investments.
The Initiative Under High Surveillance: Balancing Political Ambitions and Regulatory Background
This project comes at a time when Tether and Bitfinex, two entities at the center of the operation and linked by the same management, have already faced costly settlements with US authorities in 2021, particularly with the New York Attorney General and the Commodity Futures Trading Commission. Despite this troubled past, they reaffirm their commitment to playing a central role in the next phase of institutional adoption of cryptocurrencies.
In the background, the return of Donald Trump to the presidency is reshaping US policy on crypto assets. Less restrictive and more favorable to the sector, this stance previously propelled bitcoin to over $106,000 right after his election, before a general market correction bringing it back to $94,000 today.
Cantor Fitzgerald: Catalyst for a New Wave of Crypto SPACs
Cantor Fitzgerald does not stop at this project alone. The firm, already involved in Tether’s private placement in Rumble, has launched two other SPACs led by Brandon Lutnick, all in pursuit of deals within the crypto ecosystem. This strategic shift positions the company as one of the most aggressive players in structuring financial vehicles linked to digital assets.
The bet is clear: to ride the speculative frenzy around bitcoin while building an investment infrastructure capable of attracting public markets. If the deal materializes, it could redefine the balance of power in crypto finance between institutional capital and native web3 actors.
