Cantor Fitzgerald to Finalize $4B Bitcoin Acquisition Deal With Blockstream Founder: Report
Main Idea
Cantor Fitzgerald is in late-stage talks with Blockstream's Adam Back for a $4 billion SPAC deal to acquire 30,000 Bitcoin, reflecting growing institutional interest in Bitcoin.
Key Points
1. Cantor Fitzgerald and Blockstream's Adam Back are negotiating a SPAC merger valued at approximately $4 billion, involving the exchange of 30,000 Bitcoin for equity.
2. The deal mirrors a previous $3.6 billion Bitcoin acquisition involving SoftBank and Tether, also led by Cantor's Chairman Brandon Lutnick.
3. Cantor's combined SPAC entities, including BSTR Holdings and Twenty One Capital, could accumulate nearly $10 billion in Bitcoin this year.
4. Adam Back has personally funded several Bitcoin-focused companies, including a $15 million investment in H100 Group.
5. The deal is part of a broader trend of crypto investors turning to SPAC or reverse mergers, as seen with Nakamoto Holdings and ProCap Financial.
Description
Wall Street investment bank Cantor Fitzgerald and Blockstream Capital founder Adam Back are reportedly working on a SPAC merger valued at approximately $4 billion. Brandon Lutnick, the Chairman of Cantor Fitzgerald, is in “late-stage talks” with Back on a direct Bitcoin transfer deal, exceeding $3 billion, sources told the Financial Times . Cantor Equity Partners 1, a special-purpose acquisition company, would issue new shares to Back in exchange for 30,000 Bitcoin. Further, the company seeks to...
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