Cantor Fitzgerald has announced plans to acquire 30,000 bitcoins through a SPAC operation. The deal involves significant capital investment and includes the participation of a notable figure in the crypto space, Adam Back.
Bitcoin Acquisition Plan
Cantor Fitzgerald intends to acquire 30,000 bitcoins from Blockstream in exchange for shares of its SPAC. The deal could reach $4 billion, with an additional $800 million raised externally. This approach will enable the creation of a public company, BSTR Holdings, with over $4 billion in bitcoin assets.
Adam Back’s Role in the Deal
Adam Back, a renowned cypherpunk and co-founder of Hashcash, agreed to the deal, receiving shares in the new company in exchange for his bitcoins. This allows him to align his interests with the company's growth and the value of the assets. 'The beauty of Bitcoin is its fixed supply,' noted Brandon Lutnick in a discussion with Paolo Ardoino.
Strategic Changes in Finance
This transaction is not merely a purchase but a statement of intent indicating that the financial sector is now integrating bitcoin not through derivatives but based on real assets. Similar to Strategy (formerly MicroStrategy), Cantor Fitzgerald aims to accumulate bitcoins while abandoning the simple maximization of profits.
Cantor Fitzgerald's plans to acquire a significant amount of bitcoin highlight the growing attention of financial players toward cryptocurrencies and could change the approach toward integrating bitcoin into the traditional economy.
