Wall Street giant Cantor Fitzgerald is reportedly in the final stages of a landmark deal involving its special purpose acquisition company (SPAC), Cantor Equity Partners 1, and renowned bitcoin pioneer Adam Back, co-founder and CEO of Blockstream.
The transaction is poised to be one of the largest institutional bitcoin acquisitions to date, according to a report from the Financial Times
Cantor Equity Partners 1, which raised $200 million in a January IPO, would acquire 30,000 BTC, worth over $3 billion.
This story is an excerpt from the Unchained Daily newsletter.
Subscribe here to get these updates in your email for free
In exchange, Blockstream and Back are expected to receive shares in the newly formed entity, which will be renamed BSTR Holdings after the deal’s completion.
The SPAC also plans to raise up to $800 million from external investors to finance additional bitcoin purchases, potentially pushing the total value of the deal above $4 billion.
The deal would sharply increase Cantor Fitzgerald’s exposure to bitcoin, building on the firm’s earlier $3.6 billion crypto venture with SoftBank and Tether in April.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
