Cantor Fitzgerald plans to acquire 30,000 BTC worth $3.5 billion from Blockstream Capital.
Sources told the Financial Times and Bloomberg on July 16 that the transaction is being finalized through a SPAC merger involving Cantor Equity Partners 1.
This special purpose acquisition company (SPAC) raised $200 million in January 2025. After the deal, the SPAC will be renamed BSTR Holdings.
Instead of a cash purchase, Blockstream Capital will receive shares in the renamed Cantor vehicle in exchange for the Bitcoin.
30,000 BTC Swap to Expand Cantor Fitzgerald Bitcoin Holdings
The agreement will transfer 30,000 BTC to Cantor Fitzgerald through the SPAC. Blockstream Capital, founded by Adam Back, is offering the Bitcoin in return for an equity stake.
The SPAC structure allows Cantor to list BSTR Holdings on a U.S. exchange without triggering direct asset sale procedures.
Back is known for developing Hashcash in 1997, a proof-of-work system cited in Bitcoin’s white paper. Blockstream will gain exposure to public markets while keeping its Bitcoin holdings on-chain within BSTR Holdings.
Cantor Fitzgerald also plans to raise up to $800 million in outside funding after the merger. These funds would be used for additional Bitcoin purchases.
Brandon Lutnick Leads Cantor Fitzgerald Bitcoin Expansion
Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick, became chair of Cantor Equity Partners 1 in February 2025.
He is leading the firm’s push to increase its exposure to Bitcoin through structured acquisitions.
The company’s Bitcoin strategy is being deployed through two main vehicles: BSTR Holdings and Twenty One Capital. Together, their crypto-related acquisitions may reach nearly $10 billion by the end of 2025.
Earlier in April 2025, Cantor Fitzgerald executed a separate $3.6 billion Bitcoin deal with SoftBank and Tether. This partnership created another vehicle focused on BTC accumulation.
Cantor Fitzgerald Strategy Reflects Market Shift Toward BTC
Cantor Fitzgerald’s actions follow the growing trend of companies using BTC accumulation as a corporate strategy.
Twenty One Capital aims to increase Bitcoin per share instead of focusing solely on earnings per share.
In May 2025, Cantor closed its first Bitcoin-backed lending deal. It also supported lending operations for firms like Maple Finance and FalconX, which secured Bitcoin-backed loans.
The strategy positions Cantor Fitzgerald among the top institutional Bitcoin holders. The 30,000 BTC deal with Blockstream would be one of the largest single acquisitions in the market this year.
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