SoftBank Explores $3 Billion Bitcoin Treasury Vehicle
SoftBank is reportedly exploring a new venture in the cryptocurrency sphere. The Japanese multinational conglomerate is in talks to launch a $3 billion Bitcoin treasury vehicle with Tether and Cantor Fitzgerald. If successful, this move would place SoftBank among the top five Bitcoin-holding public companies globally upon launch.
The proposed vehicle, a Bitcoin-native operating company, aims to provide investors with traditional market access to Bitcoin. SoftBank is expected to contribute $900 million in Bitcoin, with Tether and Bitfinex adding $1.5 billion and $600 million respectively. This capitalization structure signals a significant commitment to the cryptocurrency.
SoftBank's move aligns with a growing trend among corporations. Companies like Strategy and Metaplanet Inc. have adopted similar Bitcoin treasury strategies, reaping substantial benefits. However, it's worth noting that SoftBank's interest lies in investing in Tether, a stablecoin company, rather than a Bitcoin treasury strategy, as per current reports.
If completed, SoftBank's $3 billion Bitcoin treasury vehicle would be one of the largest corporate Bitcoin deployments to date, and the most significant in Asia. This move underscores the growing acceptance and integration of cryptocurrencies into traditional investment landscapes.
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