Jack Mallers' newly established investment company, Twenty One Capital, has acquired 4,812 Bitcoin tokens valued at $458.7 million, as stated in a securities filing on Tuesday.

Twenty One Capital, with support from Tether, Cantor Fitzgerald, and SoftBank, marks a new era of corporate Bitcoin accumulation through a Special Purpose Acquisition Company (SPAC).

The recent purchase is the company's first significant acquisition of Bitcoin since its inception in late April. It signifies the beginning of an aggressive strategy for accumulating BTC, inspired by Michael Saylor's approach.

The acquisition of the "Initial PIPE Bitcoin" was initiated by Tether, the USDT issuer, who also holds a majority share in Twenty One Capital. This acquisition was part of a private investment in public equity (PIPE) transaction utilizing the proceeds from convertible notes.

After the merger forming the publicly traded entity, Tether transferred the BTC to Twenty One Capital for $458.7 million. The company, now trading under the ticker CEP, holds a notable $4.05 billion in Bitcoin, making it the third-largest corporate Bitcoin holder after Saylor's Strategy and Marathon Digital.

Led by Jack Mallers, the founder of the Bitcoin payments app Strike, Twenty One Capital is primarily owned by Tether and Bitfinex, while SoftBank has a minority stake.

The firm's approach mirrors a growing trend among businesses to incorporate Bitcoin into their balance sheets as a safeguard against fiat devaluation and centralized risks, following the strategy dubbed "Saylorization" by Bitcoin pioneer Max Keiser.

Keiser highlighted the significance of companies adopting this strategy, emphasizing the need for them to emulate Saylor's approach to ensure survival in the evolving financial landscape.

By leveraging SPACs and strategic partnerships, Twenty One Capital is positioned to intensify competition in corporate Bitcoin holdings and potentially accelerate the adoption of a Bitcoin-native balance sheet approach across industries.