Cantor Fitzgerald is reportedly nearing the final stages of negotiations with Blockstream for a Bitcoin acquisition worth over $3 billion through a SPAC.
Negotiations Between Cantor Fitzgerald and Blockstream
According to multiple news reports, Cantor Fitzgerald is looking to acquire up to 30,000 Bitcoin from Blockstream. The acquisition is linked to the special purpose acquisition company (SPAC) Cantor Equity Partners 1, which raised $200 million in January. Final negotiations are expected to be completed by the end of the week.
Deal Structure and Potential Impact
In return, Blockstream is expected to receive shares in the Cantor-backed vehicle, which will be renamed BSTR Holdings. The deal might also be expanded to over $4 billion through the raising of additional capital up to $800 million. If completed, Cantor Fitzgerald would solidify its position as one of the most active institutional buyers of Bitcoin globally.
Adam Back's Role in the New Venture
The planned BSTR Holdings entity is expected to broaden its services, including advisory, asset management, and financial services. Blockstream CEO Adam Back, who corresponded with Satoshi Nakamoto, will serve as the public face of the company.
Should the negotiations conclude successfully, Cantor Fitzgerald will reaffirm its reputation as an active player in the Bitcoin market, highlighting the growing interest from institutional investors in cryptocurrencies.
