Adam Back's Blockstream Eyeing $3.5B Bitcoin Treasury Deal via Cantor SPAC

Adam Back Potentially Seals Landmark Bitcoin Deal

Early Bitcoin pioneer and Blockstream CEO Adam Back is reportedly nearing a deal with Cantor Fitzgerald's Brandon Lutnick to create a substantial Bitcoin treasury. The proposed transaction, detailed in a Financial Times report, could involve a staggering $3.5 billion worth of BTC.

Key Details:

• The Deal: Lutnick's SPAC, Cantor Equity Partners 1, would acquire 30,000 BTC from Back.
• The Return: Back would receive equity in the SPAC, which would be rebranded as BSTR Holdings.
• Capital Raise: The firm is also aiming to raise $800 million in outside capital.

This news follows Cantor Fitzgerald's previous foray into the bitcoin space with Twenty One Capital, backed by SoftBank, Tether, and Bitfinex. This trend reflects a growing interest in publicly-traded companies adopting crypto treasury strategies, allocating investor funds to acquire digital assets.

Back's involvement extends beyond this deal, having recently backed several Bitcoin-focused companies, including H100 Group and Blockchain Group. The potential acquisition underscores the increasing acceptance and integration of Bitcoin into mainstream finance.

Key Takeaways:

• Massive Bitcoin acquisition planned via SPAC.
• Early Bitcoiner Adam Back at the center of the deal.
• Growing trend of public companies holding significant BTC treasuries.
• Institutional interest in Bitcoin continues to rise.