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.



<h2>Merger Of Bitcoin-Native Entities</h2>



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.



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<blockquote>Tether Investments Proposes Merger Plans at Twenty-One Capital to Accelerate its Strategic Direction Read more: https://t.co/aed2IjaWwj— Tether (@tether) April 29, 2026</blockquote>
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<h2>Twenty One Capital’s Shares Rise</h2>



Twenty One Capital debuted on the New York Stock Exchange in December as a Bitcoin-native company founded by Jack Mallers, who also serves as the founder and CEO of Strike.



The company, backed by Tether, SoftBank, and Cantor Fitzgerald, is the world’s second-biggest Bitcoin corporate holder, trailing only Strategy Inc. (NASDAQ:MSTR). As of this writing, it holds 43,514 BTC in its treasury, worth $3.29 billion, according to BitcoinTreasuries.net.



Price Action: Twenty One Capital shares were up 5.11% in overnight trading after closing 1.76% lower at $7.83 during Wednesday’s regular trading session, according to data from Benzinga Pro. Year-to-date, the stock has fallen by over 10%.



At the time of writing, BTC was exchanging hands at $75,745.94, down 1.63% in the last 24 hours



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Photo courtesy: Shutterstock

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Tether (USDT), majority owner of Twenty One Capital (XXI), has proposed a three-way merger with Bitcoin payments firm Strike and Bitcoin mining platform Elektron Energy. This strategic move aims to enhance the outlook of the Bitcoin treasury firm by combining resources and capitalizing on a strong balance sheet and profitable operations. Tether plans to support the merger, which could create a powerful entity in the crypto market if completed.

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