Cryptocurrency powerhouse, Bitcoin Standard, set to transition into public trading through a $1.5 billion Special Purpose Acquisition Company (SPAC) deal with Cantor Fitzgerald.

Cryptocurrency powerhouse, Bitcoin Standard, set to transition into public trading through a $1.5 billion Special Purpose Acquisition Company (SPAC) deal with Cantor Fitzgerald.

Cantor Equity Partners I and Bitcoin Standard Treasury Company Merge for Up to $1.5 Billion

In a significant move for the cryptocurrency industry, Bitcoin Standard Treasury Company (BSTR) has announced a merger with Cantor Equity Partners I, a Special Purpose Acquisition Company (SPAC) backed by Cantor Fitzgerald. The deal, expected to close in the fourth quarter of 2025, aims to raise up to $1.5 billion in financing.

The combined company is expected to trade on Nasdaq under the ticker 'BSTR' following the deal's anticipated closure. The transaction includes several innovative financing elements, with up to $200 million contributed by the SPAC itself, subject to shareholder redemptions. Additionally, $400 million in common equity and up to $750 million in convertible senior notes have been committed to the merger.

Notably, the deal includes a $25,000 Bitcoin contribution from founding shareholders advised by Blockstream Capital Partners, and a $5,021 Bitcoin in-kind PIPE from longtime Bitcoin community members. This PIPE financing nearly doubles the next-largest PIPE for a Bitcoin treasury SPAC merger at announcement.

Adam Back, the inventor of Hashcash and co-founder of Blockstream, will lead BSTR as CEO. Sean Bill, with institutional portfolio management expertise, will serve as BSTR's Chief Investment Officer. Brandon Lutnick, son of Commerce Secretary Howard Lutnick, serves as Chairman and CEO of Cantor Equity Partners I.

The merger will make BSTR the fourth-largest public corporate Bitcoin treasury worldwide, with 30,021 Bitcoin on its balance sheet. Net proceeds from the transaction will be used to acquire additional Bitcoin and develop Bitcoin-native capital markets products and advisory services.

The announcement comes amid a broader corporate Bitcoin adoption trend. Bitcoin has surged over 26% this year, recently crossing $120,000 for the first time. BSTR's strategy mirrors the successful Bitcoin treasry approach pioneered by Michael Saylor's MicroStrategy.

The deal requires approval from CEPO shareholders and other customary closing conditions. The House of Representatives recently passed the GENIUS Act, establishing a federal framework for stablecoins, which may further boost the confidence of investors in the cryptocurrency market.

Despite extensive search efforts, the CEO of the Bitcoin Standard Treasury Company was not explicitly named in the provided search results. However, the Bitcoin Standard Treasury Company is listed as one of the major public holders of Bitcoin. The CEO named in connection with a similar public Bitcoin treasury company merger with Cantor Equity Partners I is Matt Cole, but he is CEO of Strive, Inc., a different company aiming to be a large public Bitcoin treasury.

This merger represents another major crypto move for Cantor Fitzgerald, which earlier this year backed a $3.6 billion venture with SoftBank Group and Tether to acquire Bitcoin. The merger is expected to bring significant growth and innovation to the Bitcoin market.

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