Cantor Fitzgerald nears $4B Bitcoin deal with Blockstream’s Adam Back

Deal would mark one of the largest crypto-focused SPAC transactions as the investment bank expands its digital asset ambitions.

Key Takeaways

• Cantor Equity Partners 1, a SPAC chaired by Brandon Lutnick, is in final talks to acquire over $3 billion in BTC from Blockstream founder Adam Back.
• The vehicle plans to raise an additional $800 million to fund further crypto purchases, pushing the total deal value past $4 billion.

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Cantor Fitzgerald is closing in on a $4 billion deal that would make it one of the world’s most aggressive institutional Bitcoin buyers, according to a Financial Times report.

Cantor Equity Partners 1, a $200 million SPAC chaired by Brandon Lutnick, is in late-stage negotiations to acquire over $3 billion in Bitcoin from Adam Back, founder of Blockstream Capital.

As part of the deal, Blockstream would contribute up to 30,000 BTC in exchange for shares in the SPAC, which will be renamed BSTR Holdings. The vehicle also plans to raise an additional $800 million in outside capital to expand its crypto buying power, pushing the total deal above $4 billion.

This would be Lutnick’s second large-scale Bitcoin venture this year, following an earlier $3.6 billion transaction with SoftBank, Tether, and Bitfinex in April. Taken together, Cantor’s crypto buying efforts through BSTR Holdings and Twenty One Capital could reach nearly $10 billion by year-end.

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