Tether-Owned Twenty One Capital’s Shares Surge After Stablecoin Company Proposes Merger With Bitcoin Firm Strike

Tether (CRYPTO: USDT), the majority owner of Twenty One Capital (NYSE:XXI), suggested a three-way merger on Wednesday to strengthen the Bitcoin (CRYPTO: BTC) treasury firm’s strategic outlook.

Merger Of Bitcoin-Native Entities

Tether said in a press release that it plans to vote in favor of a proposed merger between Twenty One Capital and Bitcoin payments firm Strike, followed by a merger of the combined entities with Elektron Energy, a large-scale Bitcoin mining platform.

“If consummated, the transactions would allow the combined entity to leverage a strong balance sheet, a large-scale profitable operating business, and a financial services division built to spearhead Bitcoin adoption,” Tether said.

Full story available on Benzinga.com