The SPAC deal of Bitcoin Standard Finance combines statutory financing and PIPE priced in Bitcoin, aiming to debut on NASDAQ with over 30,000 BTC and an aggressive growth plan.
1. The founders contributed 25,000 BTC, plus 5,021 BTC from early investors, with new capital reaching up to $1.5 billion.
2. The company plans to actively manage funds and quickly expand to over 50,000 BTC to challenge the reserves of MARA Holdings.
The company is preparing to go public on NASDAQ through a merger with Cantor Equity Partners (CEPO), and has 30,021 BTC on its balance sheet, planning to increase its reserves to over 50,000.
This will likely allow it to surpass MARA Holdings (MARA), becoming the second-largest BTC holder after Strategy. According to bitcointreasuries.net, MARA holds over 50,600 BTC. Strategy holds slightly less than 629,000 BTC.
Currently, MSTR, MARA, and BSTR collectively hold about 710,000 Bitcoins, which is approximately 3.38% of the fixed supply of 21 million Bitcoins.
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