Twenty One transfers US$ 4 billion in Bitcoin for NYSE debut with a fee of only US$ 1.64

Source: PortaldoBitcoin Original Title: Twenty One moves US$ 4 billion in Bitcoin for Stock Exchange debut and pays only US$ 1.64 in fees Original Link: The company Twenty One moved around US$ 4 billion in Bitcoin on the eve of its debut on the New York Stock Exchange (NYSE), in a transaction that drew attention both for its value and its negligible cost: only US$ 1.64 in fees.

The operation was identified and involved the transfer of 43,033 BTC, equivalent to approximately US$ 3.93 billion, between two wallets which were later confirmed as belonging to the company.

The low cost of the transaction—less than two dollars to move billions—once again highlighted one of the points often cited by Bitcoin advocates: its ability to transfer large amounts quickly and cheaply, regardless of borders or the size of the operation.

The movement is part of the final adjustments for the IPO of Twenty One, a company backed by Tether that is making its debut under the ticker XXI. According to company executives, the listing process required the reallocation of all more than 43,500 BTC held in escrow to direct custody by the manager.

With the subsequent update of published proof of reserves, the company reinforces the transparency required for its debut in the public market.

Twenty One debuts on the stock exchange

Twenty One will be the first major institutional venture by Tether in the asset management sector to go public, expanding the presence of the USDT issuer in the traditional financial market. The company launches with one of the largest Bitcoin balances among listed companies, rivaling other corporate vehicles that accumulate BTC as part of their treasuries.

Expectations are that Twenty One’s debut on the NYSE will draw significant attention from investors interested in the intersection between cryptocurrencies and traditional markets. With the public demonstration of its billion-dollar BTC reserves and Tether’s backing, the company enters the market under a strong spotlight and as yet another indicator of the advancement of Bitcoin institutionalization on the global stage.