Bitcoin News Today: Cantor Fitzgerald to Acquire $4 Billion in Bitcoin from Blockstream

Cantor Fitzgerald, a prominent investment bank, is in advanced discussions to acquire approximately $4 billion in Bitcoin from Blockstream, a blockchain technology company co-founded by Adam Back. The deal involves Cantor Equity Partners 1, a special-purpose acquisition company (SPAC) affiliated with Cantor Fitzgerald, which raised $200 million in a January IPO. The SPAC plans to issue new shares to Back in exchange for up to 30,000 BTC, valued at around $3 billion at current prices. Additionally, the firm aims to secure up to $800 million in additional outside capital for further Bitcoin purchases. Upon completion, the SPAC will be renamed BSTR Holdings.

The proposed transaction mirrors a previous $3.6 billion Bitcoin acquisition venture, Twenty One Capital, which Cantor Fitzgerald's Brandon Lutnick established with SoftBank and Tether in April. If both deals are completed, Cantor Fitzgerald could accumulate nearly $10 billion in Bitcoin this year, positioning the firm as one of the most active institutional buyers of the asset. Back, known for inventing Hashcash and co-founding Blockstream in 2014, will swap the contributed Bitcoin for equity in the public firm. Blockstream Capital’s stake would increase with any subsequent purchases the SPAC finances with newly raised capital.

Brandon Lutnick, who was named chair of Cantor Fitzgerald in February after his father, Howard Lutnick, became US Commerce Secretary, is leading the negotiations. The deal aligns with a broader trend of corporations and SPACs raising equity or issuing convertible bonds to buy Bitcoin outright, a strategy popularized by Strategy. The transaction is expected to require shareholder approval and review by the Securities and Exchange Commission, with updated disclosures detailing the Bitcoin contribution and capital raise.

The timing of the deal coincides with what Republican lawmakers have dubbed “Crypto Week,” during which the House is debating multiple digital asset bills. Cantor’s push also aligns with President Donald Trump’s deregulatory stance toward crypto markets, which executives describe as conducive to large balance sheet allocations. If completed, BSTR Holdings would emerge as one of the world’s largest listed holders of Bitcoin, trailing only Strategy and a handful of spot ETF trusts.

This initiative is part of Cantor Fitzgerald's broader strategy to maximize Bitcoin per share, drawing comparisons to Michael Saylor’s playbook at Strategy. The firm aims to use SPACs and hybrid financial products to gain Bitcoin exposure while targeting traditional market investors. The planned BSTR Holdings entity is also expected to expand beyond simply holding Bitcoin, potentially offering advisory, asset management, and financial services, with Blockstream CEO Adam Back positioned as the public face of the company.