Adam Back’s $2.1B Bitcoin$BTC Treasury Play Set to Challenge MARA in BTC Holdings
Bitcoin Standard Treasury Co.'s SPAC deal combines fiat financing and a bitcoin-denominated PIPE, aiming to debut on the Nasdaq with over 30,000 BTC and an aggressive growth plan.
By James Van Straten|Edited by Aoyon Ashraf, Sheldon Reback
What to know:
Founders are contributing 25,000 BTC, plus 5,021 BTC from early investors, with up to $1.5 billion in new capital.
The company plans for active treasury management and rapid expansion beyond 50,000 BTC to challenge MARA Holdings' hoard.
In this article
Bitcoin $BTC Standard Treasury Co.(BSTR), a bitcoin
BTC
$116,034.62
treasury vehicle led by cryptography pioneer Adam Back, sees itself as a company with a mission to accelerate real-world bitcoin adoption.
But it might be setting out on another milestone: becoming one of the biggest corporate bitcoin holders.
