Early Bitcoiner Adam Back Nears $3.5B BTC Deal With Brandon Lutnick-Led Cantor SPAC: FT
2025-07-15 21:42:16
Main Idea
Cantor Equity Partners 1 is in late-stage talks to acquire 30,000 BTC from Blockstream CEO Adam Back in a deal worth nearly $3.5 billion, with the entity to be renamed BSTR Holdings.
Key Points
1. Cantor Equity Partners 1, a shell company, plans to acquire 30,000 BTC from Adam Back and Blockstream Capital in exchange for shares.
2. The deal is valued at nearly $3.5 billion at current Bitcoin prices.
3. The entity will be renamed BSTR Holdings and seeks to raise $800 million in outside capital.
4. Cantor Fitzgerald previously launched another Bitcoin investment vehicle, Twenty One Capital, backed by SoftBank, Tether, and Bitfinex.
5. Adam Back has personally invested in several Bitcoin-focused companies this year, including Sweden’s H100 Group and France's Blockchain Group.
Description
Brandon Lutnick , chairman of Wall Street investment bank Cantor Fitzgerald, is in late-stage talks with early bitcoin proponent and Blockstream CEO Adam Back for a bitcoin treasury deal that could be worth over $3 billion, the Financial Times reported on Wednesday. According to the report, Lutnick’s blank cheque company Cantor Equity Partners 1 would acquire 30,000 BTC (nearly $3.5 billion at current prices) from Back. In return, Back would receive equity in the vehicle, which would be renamed ...
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