Cantor Fitzgerald has launched a $4 billion Bitcoin special-purpose acquisition company (SPAC), anchored by Blockstream CEO Adam Back’s contribution of 30,000 BTC valued at $3.5 billion. Initially capitalized at $200 million, the SPAC will transition to the name BSTR Holdings once Back’s Bitcoin holdings are converted into equity.
The firm plans to raise up to $800 million in external capital to expand Bitcoin acquisitions, potentially increasing Cantor’s total Bitcoin exposure to $10 billion within the year. This expansion aligns with a broader trend of SPACs gaining traction as cryptocurrency investment vehicles due to their flexibility and role in accelerating institutional adoption.
The announcement arrives during heightened U.S. regulatory scrutiny of the crypto sector, where legislators are actively debating digital asset frameworks. This influx of institutional capital through SPACs is contributing to Bitcoin’s price stability and market maturation.
BSTR Holdings is positioned as a potential blueprint for future crypto-focused investment products, underscoring elevated institutional confidence in Bitcoin’s long-term value proposition.