Cantor Fitzgerald, the prominent American financial services firm, is reportedly preparing to acquire up to 30,000 Bitcoins worth more than $3.5 billion from Adam Back’s Blockstream Capital, according to sources cited by Financial Times and Bloomberg on Tuesday.
The ambitious acquisition would position Cantor Fitzgerald among the largest institutional holders of Bitcoin globally, underscoring Wall Street’s deepening embrace of the flagship cryptocurrency.
SPAC Structure Taps Into Blockstream’s BTC Treasury
The arrangement involves Cantor Equity Partners 1, a special purpose acquisition company (SPAC) chaired by Brandon Lutnick, the 27-year-old son of U.S. Commerce Secretary Howard Lutnick. The SPAC, which raised $200 million in January, will merge with Blockstream Capital, the crypto firm co-founded by Bitcoin pioneer Adam Back.
Blockstream would contribute up to 30,000 BTC — currently valued at about $3.5 billion — in exchange for a significant stake in the new entity, which will be renamed BSTR Holdings. Additional reports suggest that Cantor Fitzgerald plans to raise to $800 million more to expand its Bitcoin war chest.
Cantor Aims to Become Institutional Bitcoin Giant
If finalized, the deal would push Cantor’s cumulative Bitcoin holdings across its crypto vehicles — BSTR Holdings and Twenty One Capital — close to $10 billion by year’s end. That aligns Cantor with the Michael Saylor-style Bitcoin treasury strategy, maximizing BTC per share instead of focusing purely on earnings per share.
Earlier this year, Cantor Fitzgerald closed a $3.6 billion crypto acquisition with SoftBank and Tether to fuel its Bitcoin buying ambitions and sealed its first BTC lending deal in May.
A Nod to Bitcoin’s Roots
Adam Back, whose 1997 Hashcash invention laid the groundwork for Bitcoin’s proof-of-work consensus, continues to play a pivotal role in institutional crypto adoption. The deal would see Blockstream exchanging its BTC reserves for equity, reflecting how legacy cryptography pioneers are partnering with major finance to push Bitcoin deeper into mainstream capital markets.
Market Eyes This Week’s Announcement
While final terms are still subject to change, insiders told Financial Times that the transaction could be confirmed as soon as this week. The move highlights a growing wave of Bitcoin-native capital formation as Wall Street titans position themselves for a supply squeeze narrative and long-term store-of-value strategy.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
