merger

Tether (USDT-USD) is trying to build a full-scale Bitcoin (BTC-USD) empire under one public company—and the market reacted fast.
On April 29, the company proposed a series of mergers between Twenty-One Capital (XXI) and Strategy (MSTR) preferred stock Strike (STRK). The combined entity would then merge with Elektron Energy, making it into one powerhouse of a publicly traded Bitcoin-focused platform.
The combined company would bring BTC treasury holdings, mining operations, lending, payments, and financial services under one platform. The company said it intends to vote its shares in favor of the proposed transactions.
STRK already operates in 100+ countries, letting users buy, sell, hold, send, and even borrow against BTC, while Elektron manages nearly 50 EH/s of mining capacity—roughly 5% of the BTC network—with a production cost below $60K per BTC.
USDT also wants Elektron Energy CEO Raphael Zagury to become president of the combined company, alongside STRK founder Jack Mallers leading BTC product and consumer growth.
The announcement pushed XXI shares from ~$7.79 to nearly ~$9.28 before cooling back toward ~$7.98 on Thursday. On the other hand, STRK is trading around ~$76.69.
XXI currently holds 43.5K BTC, while Strategy (MSTR) still dominates the space with 818.3K BTC worth about $62.5B at current prices. USDT itself remains one of the largest BTC holders globally, with more than 140K BTC on its balance sheet.
If completed, the deal could create one of the most vertically integrated BTC companies in public markets.
#merger #strategy #Tether #StrategyBTCPurchase #FedRatesUnchanged
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