Cantor, Adam Back Team Up to Launch Bitcoin Treasury Firm With $3.5 Billion in BTC
2025-07-17 16:05:59
Main Idea
Bitcoin Standard Treasury Company (BSTR) is going public via a merger with Cantor Equity Partners I (CEPO), led by Bitcoin whale and Blockstream Capital CEO Adam Back, with over 30,000 Bitcoin and $1.5 billion in PIPE financing.
Key Points
1. BSTR will merge with SPAC Cantor Equity Partners I (CEPO), creating a publicly traded company with over 30,000 Bitcoin ($3.5 billion) and $1.5 billion in PIPE financing.
2. Adam Back, a prominent Bitcoin whale and Blockstream Capital CEO, will serve as BSTR's CEO.
3. The merger aims to build Bitcoin-native capital-markets products and advisory services, leveraging the combined resources.
4. The deal, approved by both boards, is expected to finalize in Q4, making BSTR one of the largest publicly traded Bitcoin treasury firms.
5. Cantor Equity Partners I (CEPO) shares dropped nearly 9%, while Bitcoin's price is $118,704, slightly below its all-time high of $122,838.
Description
After launching Twenty One (XXI), Cantor Fitzgerald is making another big Bitcoin treasury move with early Bitcoiner Adam Back.
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