Cantor Fitzgerald Plans $3.5B Bitcoin Purchase from Blockstream
Cantor Fitzgerald, a prominent American financial services firm, is nearing completion of a deal to buy over $3.5 billion worth of Bitcoin from Blockstream Capital, the crypto trading group founded by Bitcoin pioneer Adam Back. The transaction involves a SPAC merger with Cantor Equity Partners 1, with plans to exchange 30,000 BTC for shares in the newly formed BSTR Holdings.
Key Details of the Bitcoin Deal
- The acquisition could establish Cantor as one of the world’s largest Bitcoin holders.
- An additional $800 million may be raised to expand Bitcoin holdings.
- This reflects a broader corporate shift toward valuing Bitcoin as a strategic reserve asset.
Strategic Implications for Cryptocurrency Markets
This move highlights growing institutional interest in Bitcoin. Brandon Lutnick has led Cantor’s cryptocurrency initiatives, including a previous $3.6 billion agreement with SoftBank and Tether to form a Bitcoin acquisition company.
Adam Back’s Foundational Role in Bitcoin
Adam Back‘s 1997 Hashcash concept provided the basis for Bitcoin’s proof-of-work system, cementing his legacy in cryptocurrency development.
