Cantor Fitzgerald Strikes $3.5 Billion Bitcoin Treasury Deal With Early Bitcoiner Adam Back
2025-07-18 16:00:54
Main Idea
Cantor Fitzgerald's chairman Brandon Lutnick partners with Blockstream CEO Adam Back for a SPAC deal involving significant Bitcoin acquisitions, aiming to deepen institutional involvement in the crypto market.
Key Points
1. Cantor Equity Partners 1, a SPAC, plans to acquire up to 30,000 Bitcoin ($3.5 billion) from Blockstream, with Adam Back receiving shares in the renamed BSTR Holdings.
2. Adam Back, cited in Bitcoin's whitepaper for creating Hashcash, emphasizes Bitcoin's role as sound money, with BSTR Holdings focused on advancing this mission.
3. The deal includes raising an additional $800 million for further Bitcoin purchases, alongside another SPAC merger targeting 42,000 BTC through Twenty One Capital.
4. Combined, Cantor's two vehicles (BSTR Holdings and Twenty One Capital) could reach $10 billion in Bitcoin purchases by 2025, positioning Cantor as a top institutional buyer.
5. Bitcoin's price was $119,377 at press time, following a recent all-time high of $122,838.
Description
Brandon Lutnick — the 27-year old chairman of Wall Street investment bank Cantor Fitzgerald and son of United States Commerce Secretary Howard Lutnick — has teamed up with early Bitcoin proponent and Blockstream CEO Adam Back for a multi-billion dollar Bitcoin deal. The deal involves Cantor Equity Partners 1, a blank-cheque special purpose acquisition company
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