Brandon Lutnick, son of US commerce secretary Howard Lutnick, is partnering with SoftBank, Tether and Bitfinex to capitalise on a cryptocurrency revival under US President Donald Trump.

The consortium is creating a multibillion-dollar bitcoin acquisition vehicle that will absorb billions in cryptocurrency from the other partners and use the funds in an attempt to replicate the success of MicroStrategy..

The vehicle, called Cantor Equity Partners, raised $200mn in January and will use the cash to create a new firm, called 21 Capital. It will receive $3bn in bitcoin from the other cryptocurrency investors and trading firms, according to the people.

Tether would contribute $1.5bn of bitcoin, while SoftBank and Bitfinex would contribute $900mn and $600mn, respectively, of the digital currency, the people added. Tether and Bitfinex are owned by the same parent company and share some of the same leadership.