Bitcoin Surges 10% to $94,700 as Cantor Fitzgerald, Tether, SoftBank Invest $3.6 Billion

Financial markets worldwide experienced a significant surge on Friday, driven by renewed optimism surrounding US-China trade negotiations and a substantial investment in Bitcoin by Cantor Fitzgerald, Tether, and SoftBank. The positive sentiment was fueled by reports of ongoing dialogue between the US and China, which has been a key factor in boosting market confidence. President Trump has indicated that discussions with China are underway, which has helped to alleviate some of the uncertainty that has been plaguing the markets in recent weeks.

The cryptocurrency market, in particular, saw a notable uptick as Bitcoin mirrored the positive movements in the US stock market. Bitcoin reached its highest point in seven weeks, hitting $94,700, with the potential to reach $100,000 if it breaks through the $95,000 resistance level. This surge in the price of Bitcoin has been driven by a combination of factors, including the renewed optimism surrounding US-China trade negotiations and the significant investment by Cantor Fitzgerald, Tether, and SoftBank.

In a significant development, Cantor Fitzgerald, Tether, and SoftBank have announced a joint venture to invest $3.6 billion in the cryptocurrency market. This move is seen as a major endorsement of Bitcoin and other digital currencies, as it involves some of the most influential players in the financial world. The investment is expected to further bolster the cryptocurrency market, which has already seen a surge in interest and activity in recent months. The venture, Twenty One Capital, purchased 42,000 Bitcoins on April 23, aiming to establish a Bitcoin treasury ranked number three globally at $85,000 Bitcoin price.

The renewed optimism surrounding US-China trade negotiations has also had a positive impact on other asset classes. The United States government has started to review potential Chinese import tariff reductions that fall between 50% and 65%. This potential tariff reduction led to a global market recovery, strengthening market sentiment across all financial classes. President Trump initiated a three-month window during which other nations could establish trade solutions to address current trade deficiencies.

The investment by Cantor Fitzgerald, Tether, and SoftBank is seen as a strategic move to capitalize on the growing interest in cryptocurrencies. The Tether and Bitfinex investment group has obtained control of most company shares after investing $1.6 billion in Bitcoin holdings. Additionally, Bitfinex committed $600 million to the transaction, which resulted in SoftBank acquiring a minority interest worth $900 million from the exchange platform. The corporations have devised strategies to generate an additional funding of $585 million through convertible bonds and equity financing activities inside their operations.

The venture will go public on the Nasdaq under the symbol “XXI,” following a merger with Cantor Equity Partners, a blank-check vehicle. This development extends the business relationship between Tether stablecoin and its parent company, Cantor Fitzgerald. Ardoino from Tether explained Bitcoin remains untouchable and decentralized thus enabling it to build future financial systems. Through its ownership of 99% of U.S. Treasury bills, Cantor Fitzgerald oversees Tether’s operating reserves in order to optimize their joint business operations.

Twenty One Capital aims to duplicate MicroStrategy’s success by owning the most Bitcoin in corporate assets, presently holding 538,200 units on April 20. The venture reflects growing institutional adoption of cryptocurrencies, spurred by expectations of favorable U.S. policies under President Trump, who has pledged to make the U.S. the “crypto capital of the world.”