According to online reports, listed companies with Bitcoin as the core announced that they would purchase 4,812 BTC (US$458.7 million) through TETHER, with an average price of US$95,300. Investment firm Cantor Equity Partners previously announced plans to form "Twenty One" through a SPAC merger. It will become a publicly traded company with Bitcoin at its core, with an initial reserve of more than 42,000 bitcoins-worth more than US$3.9 billion at current prices, with financial support from Tether, Bitfinex, and investment companies Cantor Fitzgerald and SoftBank Group. Headed by Brandon Lutnick, son of the U.S. Secretary of Commerce, the company not only plans to hoard Bitcoin (allowing investors to gain exposure to relevant assets without actually holding it), but will also provide bitcoin-related financial services and create a cryptocurrency content and media platform.