Based on the most recent updates from the Financial Times, Cantor Fitzgerald, a financial services firm overseen by Brandon Lutnick, the son of US Commerce Secretary Howard Lutnick, is collaborating with SoftBank, Tether, and Bitfinex to establish a Bitcoin (BTC) investment fund totaling more than $3 billion.

This development is occurring amidst a positive trend in BTC prices, experiencing significant gains in recent days.

Apparently inspired by the achievements of Strategy – the largest corporate holder of BTC, now known as MicroStrategy, the move by Cantor Fitzgerald aims to replicate its success with Bitcoin. Reports indicate that Cantor Equity Partner, Lutnick's special purpose acquisition company (SPAC), amassed $200 million in January to establish the new company, 21 Capital.

The cryptocurrency enterprises involved in the project are set to allocate substantial amounts of Bitcoin to 21 Capital. Tether plans to contribute BTC valued at $1.5 billion, Bitfinex aims to provide $600 million, and SoftBank is expected to inject $900 million into the initiative.

The total Bitcoin commitment from the partners tallies up to $3 billion. This strategic collaboration also signifies SoftBank’s growing interest in the cryptocurrency sector.

The partners’ cryptocurrency investments will be exchanged for shares of 21 Capital at $10 per share, with Bitcoin valued at $85,000 per coin. Apart from the contributions from the partners, Cantor Fitzgerald's SPAC intends to raise additional funds through a $350 million convertible bond and a $200 million private equity placement to secure more Bitcoin.

Although the deal is anticipated to be announced soon, there is a possibility of it not materializing or the figures undergoing alterations, as cautioned by sources cited by the Financial Times.

As the consortium endeavors to mirror Strategy's success story, attention will be on Bitcoin's performance over the long term and the evolving regulatory landscape concerning digital assets.