US EditionCantor Fitzgerald close to $4bn Spac deal with bitcoin pioneer
UNITED STATES, JUL 15 – Cantor Fitzgerald aims to boost Bitcoin holdings close to $10 billion by year-end through a $4 billion SPAC deal with Adam Back’s Blockstream Capital and plans to raise $800 million more.
- Cantor Fitzgerald's SPAC, Cantor Equity Partners 1, is nearing completion of a transaction to purchase Bitcoin valued at more than $3 billion from Blockstream CEO Adam Back, with the total deal potentially surpassing $4 billion.
- This transaction follows Cantor's April $3.6 billion Bitcoin venture with SoftBank and Tether and fits within Back's goal to expand Bitcoin's institutional use beyond mere liquidity events.
- The SPAC plans to receive about 30,000 BTC from Back in exchange for shares and will be renamed BSTR Holdings while seeking up to $800 million more to fund further Bitcoin purchases.
- CoinDesk analyst James Van Straten stated that this agreement highlights Back’s enduring belief that Bitcoin should hold a fundamental role within conventional financial investment strategies.
- Once completed, the deal would establish Cantor as a major institutional Bitcoin buyer, significantly increasing its crypto exposure amid a deregulatory environment favorable to digital asset investment.
33 Articles
33 Articles
Cantor Fitzgerald SPAC Nears $4 Billion Bitcoin Deal With Adam Back: Report
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 …
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