According to the Financial Times report, Contour Fitzgerald, with the collaboration of Tether, Bitfinex, and Saffron Bank, plans to establish a public joint-stock company named 21 Capital, receiving $3 billion worth of Bitcoin from participating companies. Tether will contribute $1.5 billion, Saffron Bank $900 million, and Bitfinex $600 million. The project will also raise $350 million in convertible bonds and $200 million in private capital to acquire more Bitcoin. This company follows a micro-strategy investment model. The goal of this project is to provide a public investment vehicle that tracks Bitcoin’s performance through direct assets. Brandon Lutnick, the new head of Contour Fitzgerald, leads this project. Participating companies will receive 21 Capital shares valued at $85,000 per Bitcoin. The deal is expected to be announced in the coming weeks.
