Bitcoin Fee Shock: $2 for $1.5B Transfer – Tether’s Twenty One Capital Revealed

A massive Bitcoin transfer earlier today turned heads across the crypto space. But what looked like an unexplained move is now part of a much bigger story. Tether CEO Paolo Ardoino has confirmed the 10,500 BTC, worth over $1.1 billion, was part of pre-funding for a new institutional Bitcoin fund called Twenty One Capital.

More Than One Big Transfer

The 10,500 BTC was just one of many large transactions. Over the last 48 hours, around 37,229 BTC have moved to new wallets. These include several transactions in the range of 14,000 BTC, 4,812 BTC, 7,000 BTC, and 917 BTC. All are reportedly linked to the same project, bringing the total value close to $4 billion based on today’s price.

Inside Twenty One Capital

Twenty One Capital is a new kind of fund focused on holding Bitcoin as its base asset. Instead of trading or speculation, the fund is designed to preserve value in BTC and then use it to expand into equities and debt markets. It follows a similar blueprint to MicroStrategy’s strategy but is launching before any IPO and is already backed by big names.

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Backed by Big Players

The fund has strong backing from Tether, Bitfinex, and SoftBank. Cantor Fitzgerald is also said to be involved, supporting the capital structure. Leading the initiative is Brandon Lutnick, who has been identified in investor materials as the son of the US Secretary of Commerce.

Tether is committing $1.5 billion worth of BTC, while SoftBank is adding $900 million and Bitfinex is in for $600 million. An extra $550 million is expected to come from convertible debt and private placements.

Why This Matters

This is one of the clearest signs yet that Bitcoin is gaining momentum as a foundation for institutional finance. Tether’s deep involvement and SoftBank’s entry bring a new level of credibility and capital to the table. With real money already moving and big players behind it, Twenty One Capital could mark the beginning of a new wave of Bitcoin-based financial products. 

However, on the flip side, Crypto analyst Bit Paine highlighted that Tether paid just $2 in fees to move $1.5 billion worth of Bitcoin. He pointed out that this amounts to a fee of just 0.000000001 percent, likely the lowest ever seen in traditional or digital finance. Paine called it a clear sign that the Bitcoin blockchain is still massively underpriced.

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