According to a report from the Financial Times, Cantor Equity Partners 1 is about to close a deal to acquire up to 30,000 BTC from Adam Back, one of the early investors in Bitcoin. According to the report, Cantor Fitzgerald SPAC is in advanced negotiations with Adam Back to acquire over 3 billion dollars in Bitcoin, owned by BlockStream Capital.
Citing anonymous sources, the Financial Times report states that Adam Back and BlockStream Capital will receive shares of Cantor Equity Partners 1 after the sale. As part of the deal, Cantor Equity Partners 1 will change its name to BSTR Holdings with plans to raise an additional 800 million dollars, which will raise the valuation to over 4 billion dollars to support a Bitcoin accumulation strategy.
Some sources indicate that the deal will close this very week, coinciding with the Cryptocurrency Week of the U.S. House of Representatives. However, there is a possibility that the final deal will reflect different terms.
The deal faithfully reflects a 3.6 billion dollar alliance launched in April between Cantor Fitzgerald, Softbank, and Tether. Twenty One Capital is already about to go public following the steady increase in its Bitcoin holdings.