BlockBeats reports that on August 16, Bitcoin Standard Treasury Co. (referred to as BSTR) is preparing to go public on Nasdaq through a merger with Cantor Equity Partners (CEPO). It currently holds 30,021 Bitcoins on its balance sheet and plans to increase its holdings to over 50,000.
This means it is expected to surpass MARA Holdings (MARA) to become the second largest corporate holder of Bitcoin, behind MicroStrategy (MSTR). MARA holds over 50,600 Bitcoins, while MicroStrategy's holdings are close to 629,000.
Currently, MSTR, MARA, and BSTR together hold approximately 710,000 Bitcoins, accounting for about 3.38% of Bitcoin's fixed supply of 21 million. This transaction is expected to be completed in the fourth quarter, and the company will be listed on Nasdaq under the ticker BSTO. If the financing is fully completed, BSTR will set a record for corporate Bitcoin treasury scale and provide a model for other companies to combine sound money with modern market tools.
