Bitcoin News Today: Bitcoin Standard Treasury Company to Go Public with 30,000 BTC Valued at $3.5 Billion

Bitcoin Standard Treasury Company (BSTR) is set to go public through a merger with Cantor Equity Partners I (CEPO), a special-purpose acquisition company (SPAC) affiliated with the investment bank. The deal, led by cryptography pioneer and early Bitcoin advocate Adam Back, aims to create a new bitcoin treasury strategy company. Back, known for creating Hashcash, which inspired Bitcoin’s proof-of-work consensus mechanism, will serve as the CEO of BSTR. Sean Bill, a veteran investor with experience in institutional allocations to Bitcoin, will join as the Chief Investment Officer.

The firm plans to debut with over 30,000 BTC on its balance sheet, valued at over $3.5 billion at current prices. This would make BSTR the fourth-largest holder of bitcoin among publicly traded companies. Additionally, BSTR is raising up to $1.5 billion in financing through a private placement in public equity (PIPE). This financing includes $400 million in equity offering, $750 million in convertible notes, and $350 million in preferred stock. CEPO will also contribute up to $200 million, subject to shareholder redemptions.

The initial bitcoin stash comes from founding shareholders, including Back contributing 25,000 BTC, plus 5,021 BTC in-kind contribution from early investors. The announcement comes as crypto treasury firms are gaining attention on Wall Street, seeking to replicate the success of Michael Saylor's Strategy, which has become the world's largest corporate BTC owner.

The SPAC route offers BSTR a fast-track to public markets, enabling the company to bypass traditional IPO hurdles. Unlike firms that hold Bitcoin as a side asset, BSTR is a pure Bitcoin treasury—its entire model is built around accumulating and holding BTC as a long-term reserve. This move could inspire more companies to follow suit, either by allocating BTC to their treasuries or launching dedicated Bitcoin-holding entities. As BSTR goes public, it sets a precedent for the next generation of crypto-native financial models.

The public listing highlights a growing trend of institutional interest in Bitcoin. By going public, BSTR makes it easier for investors to gain exposure to Bitcoin through the stock market, without directly handling digital assets. Major players like MicroStrategy and Tesla have already established themselves as corporate BTC holders. However, BSTR’s approach stands out—it was created specifically to be a Bitcoin treasury, not a tech firm adding BTC to its balance sheet.

Adam Back, a legendary figure in the Bitcoin space and inventor of Hashcash (the proof-of-work concept Bitcoin is based on), has long supported Bitcoin as digital gold. With BSTR, he’s now offering public investors a way to back that belief in a structured, regulated way. The deal underscores the growing interest in Bitcoin as a treasury asset among institutional investors. BSTR's entry into the market with a significant amount of Bitcoin and substantial financing highlights the potential for further adoption of cryptocurrencies in corporate treasury strategies. The merger with CEPO and the planned listing on the Nasdaq will provide BSTR with the necessary capital and public visibility to execute its bitcoin treasury strategy effectively.