What to know:
- Brandon Lutnick of Cantor Fitzgerald is negotiating a more than $3 billion bitcoin treasury deal with Blockstream CEO Adam Back, the Financial Times reported.
- The deal would involve Cantor Equity Partners 1 acquiring 30,000 BTC and renaming the entity to BSTR Holdings.
- Cantor Fitzgerald’s previous ventures include Twenty One Capital, a bitcoin investment vehicle backed by major firms like SoftBank and Tether.
Ah, it seems like Wall Street and cryptocurrency are playing a delightful game of “who can outdo the other” with more zeros attached to their fortunes. In the latest episode of this riveting series, none other than Brandon Lutnick, the man himself, chairman of Cantor Fitzgerald (yes, the one with all those terribly important suits and connections), is in “close but not quite” talks with none other than Adam Back, the man with the magic Bitcoin wizardry in his veins.
Mr. Back, CEO of Blockstream and a man who’s probably spent more time with Bitcoin than most people spend with their morning coffee, is about to do a deal worth, brace yourselves, over $3 billion (if you’ve got a fainting couch nearby, now might be the time to use it). The acquisition? 30,000 glorious BTC—currently worth nearly $3.5 billion at today’s delightful Bitcoin prices, which, let’s be honest, feel like a rollercoaster ride without seatbelts.
The deal is expected to go through any minute now (well, probably not *literally* any minute, but soonish). Cantor Equity Partners 1, the name that’s about as exciting as a dry toast, will acquire the BTC, and just for fun, they’ll rename the whole shebang to “BSTR Holdings.” Who knew that renaming companies could sound so thrilling?
And of course, just to keep up with the latest trend, this investment vehicle will also attempt to raise a mere $800 million in outside capital (a sum I’m sure they’ll find down the back of the sofa). Oh, and lest you think this is just another day at the office for these tycoons, it’s important to note that Cantor Fitzgerald has dabbled in the world of Bitcoin before, with a previous venture called Twenty One Capital. Backed by such illustrious players as SoftBank and Tether, it was headed by Jack Mallers, who, by the way, heads up a little app called Strike—if you’ve heard of it.
Mr. Back, not one to rest on his laurels, has been a busy bee, personally backing several Bitcoin-related companies this year alone, including the Swedish H100 Group and the French Blockchain Group. What a charmer.
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2025-07-16 01:04