Bitcoin News Today: Bitcoin Standard to Go Public on Nasdaq with 30,021 BTC Treasury

Bitcoin Standard (BSTR) has announced its plans to go public on the Nasdaq, following a merger with Cantor Equity Partners I (CEPO). The company will launch with a substantial Bitcoin treasury of 30,021 BTC, making it one of the largest publicly reported corporate Bitcoin treasuries. The merger is expected to bring in up to $1.5 billion in fiat PIPE financing, with the CEPO trust contributing up to $200 million, subject to redemptions. The financing stack includes $400 million of common equity committed at $10 per share, up to $750 million of convertible senior notes convertible at $13, and up to $350 million of convertible preferred stock also convertible at a common-stock equivalent of $13. Additionally, BSTR has secured 5,021 BTC in-kind PIPE funding from long-time Bitcoin participants at a $10 share reference price. Founding shareholders advised by Blockstream Capital Partners will contribute 25,000 BTC at the same reference price.

The company's leadership includes Adam Back as CEO and Sean Bill as chief investment officer. Back is known for inventing Hashcash, a proof-of-work system cited in the Bitcoin white paper, and co-founding Blockstream. Bill has a background in advancing early Bitcoin allocations by a US public pension plan and integrating digital assets into institutional portfolios. BSTR's mandate is to accumulate Bitcoin, generate in-kind Bitcoin yield, and advise corporates and sovereigns on Bitcoin-denominated treasury strategies, measured in BTC per share. Back emphasized the company's mission to maximize Bitcoin ownership per share while accelerating real-world Bitcoin adoption. The merger was approved by the boards of both BSTR and CEPO and is subject to approval from CEPO shareholders and the fulfillment of customary conditions. CEPO will file additional information, including the Business Combination Agreement, PIPE documentation, and an investor presentation, in current reports on Form 8-K and a forthcoming Form S-4 registration statement, which will contain the prospectus materials.

This merger represents a significant step towards the integration of the Bitcoin economy and traditional finance. The combined resources of BSTR and CEPO will position the company as a major player in the Bitcoin space, with a substantial treasury and a clear mandate to drive Bitcoin adoption. The involvement of experienced executives like Adam Back and Sean Bill further strengthens the company's position, bringing a wealth of knowledge and expertise in the Bitcoin and digital asset sectors. The merger is expected to close following the approval of CEPO shareholders and the fulfillment of customary conditions, paving the way for BSTR to become a publicly traded company with a strong focus on Bitcoin accumulation and yield generation.