- Tether proposed a multi-stage merger plan between Twenty One Capital Inc. and cryptocurrency trading platform Strike and Bitcoin-miner Elektron Energy.
- On the back of this news, Twenty One Capital shares rose in price by 6,6%.
Shares of Bitcoin buyer Twenty One Capital rose in after-hours trading on Wednesday after its main shareholder Tether proposed a three-way merger with two other cryptocurrency companies.
В Tether stated, that they intend to vote in favor of the proposed merger of Twenty One Capital and Strike, a company engaged in Bitcoin-payments, and then for the merger of the combined company with Bitcoin-miner Elektron Energy.
Мanagement Tether did not disclose the terms of the merger or a timeline for its completion, but proposed that Elektron founder and CEO Rafael Zagury become president of the new company.
Shares of Twenty One Capital (XXI) fell by 1,7% to $7,83 at the end of trading on Wednesday, but a few hours later they jumped to $9,28, and after the close of trading they stopped at $8,35, having increased by 6,6% (data Google Finance).
The company currently ranks second in terms of investment volume in Bitcoin Among public companies, its share price has fallen more than 10,5% since the beginning of the year, following the decline in the Bitcoin price.
Previously edited Happy Coin News Reportedthat Twenty One Capital has a chance to become a competitor to Strategy, which is currently the largest corporate holder of Bitcoin.
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