Cantor Fitzgerald Set to Acquire $3.5B in Bitcoin From Blockstream

Cantor Fitzgerald is reportedly moving to acquire over $3.5 billion worth of Bitcoin from Adam Back’s Blockstream Capital, in a deal that could significantly increase its position in the digital asset space. According to reports from the Financial Times and Bloomberg, Brandon Lutnick, the 27-year-old son of U.S. Commerce Secretary Howard Lutnick, is finalizing the deal through Cantor Fitzgerald, with completion expected as early as this week. Cantor to Receive 30,000 Bitcoin The transaction involves Cantor Equity Partners 1, a special purpose acquisition company (SPAC) that raised $200 million in January, and Adam Back-founded Blockstream Capital . Under the proposed structure, Blockstream would contribute up to 30,000 Bitcoin, valued at $3.5 billion, in exchange for equity in Cantor’s SPAC, which would be renamed BSTR Holdings following the deal. Additionally, the agreement outlines plans to raise up to $800 million in new capital to facilitate further Bitcoin purchases. If the deal closes as planned, Cantor Fitzgerald would become one of the largest institutional buyers of Bitcoin globally. Combined with Cantor’s other vehicle, Twenty One Capital, the firm’s crypto acquisitions could approach nearly $10 billion by the end of this year. This move comes shortly after Cantor’s $3.6 billion crypto deal with SoftBank and Tether in April to form a dedicated Bitcoin acquisition entity. Brandon Lutnick, who became chair of Cantor Fitzgerald in February after his father’s confirmation as Trump’s trade official, is steering the firm deeper into the Bitcoin market with these acquisitions. Part of a Broader Bitcoin Capital Strategy The strategy reflects a growing trend among institutions looking to maximize Bitcoin per share, taking inspiration from Michael Saylor’s Strategy, which has accumulated approximately $70 billion in Bitcoin since 2020. Twenty One Capital, Cantor’s other crypto-focused entity, is actively following this approach, and Cantor closed its first Bitcoin lending deal in May. These moves underline the firm’s commitment to expanding its presence in the crypto lending and acquisition space amid increased institutional interest in Bitcoin. Adam Back, whose 1997 cryptographic invention Hashcash became foundational to Bitcoin’s proof-of-work mechanism, continues to play a significant role in the Bitcoin ecosystem through Blockstream’s operations and its capital initiatives. The post Cantor Fitzgerald Set to Acquire $3.5B in Bitcoin From Blockstream appeared first on TheCoinrise.com .