Cantor Fitzgerald and Adam Back collaborate to launch a $3.5 billion Bitcoin treasury company

Bitcoin Standard Treasury Company (#BSTR ) will officially go public through a merger with Cantor Equity Partners I (CEPO), a SPAC (special purpose acquisition company) associated with financial giant Cantor Fitzgerald. The company will start with over 30,000 Bitcoin, valued at over $3.5 billion, and $1.5 billion in PIPE funding.

Strategy and Goals of BSTR

The majority of the Bitcoin will be gathered from founding shareholders, including #AdamBack , CEO of Blockstream Capital, who will also serve as CEO of BSTR. Adam Back stated that BSTR was established to bring "the same integrity [as Bitcoin] into the modern capital markets," with the goal of maximizing Bitcoin ownership per share and promoting Bitcoin adoption in the real world.

The company will raise up to $1.5 billion through various forms of offerings, including selling $400 million in common stock, issuing up to $750 million in convertible bonds, and $350 million in convertible preferred stock. The proceeds will be used to purchase $BTC and "build a suite of capital market products and advisory services based on Bitcoin."

After the expected deal is completed in Q4, BSTR will become one of the largest publicly listed Bitcoin treasury companies, second only to Marathon Digital Holdings and Michael Saylor's MicroStrategy. #anhbacong