Leading the launch of a $3.9 billion Bitcoin investment fund, CEP's stock price has risen 134% in the past week.

On April 25, Cantor Equity Partners, an investment company affiliated with the crypto-friendly firm Cantor Fitzgerald, saw its stock price soar 50% on Thursday after news broke that it plans to merge into a new Bitcoin-based company. According to Yahoo Finance, Cantor Equity Partners’ stock (CEP) recently traded at $24.80 per share, rising 134% over the past week. CEP is a special purpose acquisition company (SPAC) — these companies are formed to help other businesses go public through acquisitions or mergers. On Wednesday, the company announced plans to establish ‘Twenty One’ through a SPAC merger. This will become a publicly listed company centered around Bitcoin, with initial reserves of over 42,000 Bitcoins — valued at over $3.9 billion at current prices, supported by funding from Tether, CEX, as well as investment firms Cantor Fitzgerald and SoftBank Group. The company is led by Brandon Lutnick, the son of the U.S. Secretary of Commerce, who plans not only to accumulate Bitcoins (allowing investors to gain exposure to the related assets without actually holding them) but also to provide Bitcoin-related financial services and create a crypto assets content and media platform.