Cantor Fitzgerald Pushes $4 Billion Bitcoin Deal With Blockstream Founder Amid Crypto SPAC Wave
Cantor Equity Partners 1, an investment vehicle owned by Cantor Fitzgerald, is in final talks to form a Bitcoin treasury worth up to $4 billion. The deal would reportedly make Cantor one of the largest buyers of Bitcoin in the market today, amid the growing popularity of SPAC mergers to list crypto companies and strong political support in the US.
According to a report from the Financial Times, the deal is being negotiated between Cantor and Adam Back, the founder of Blockstream and one of the most influential figures in the Bitcoin space. The deal is expected to include the transfer of up to 30,000 BTC to Cantor Equity Partners 1, along with plans to raise an additional $800 million from institutional investors to expand its digital asset holdings.
If successful, it would be Cantor Fitzgerald’s latest strategic move to build a leadership position in the Bitcoin treasury market similar to the one previously pursued by Michael Saylor’s software company MicroStrategy. MicroStrategy is currently the world’s largest public holder of Bitcoin, with more than 1% of the global circulating supply.
Cantor’s move comes just months after it announced plans to launch a Bitcoin trading company called Twenty One with backing from Tether, Bitfinex, and SoftBank. That project is expected to hold more than 42,000 BTC, worth around $3.9 billion at the time of publication. The tie-up between major names in both the crypto and traditional finance worlds marks a major step toward integrating digital assets into the mainstream financial system.
The Rise of the New Wave of SPACs
Special purpose acquisition companies (SPACs) are becoming a popular vehicle for crypto founders and funds to take their companies public. These deals allow crypto companies to go public through a merger with an already listed entity, rather than through the traditional, complex and highly regulated IPO process.
The most recent example is Nakamoto Holdings, a Bitcoin treasury company founded by Bitcoin Magazine’s David Bailey, which raised $710 million in May to go public through a merger with KindlyMD, Inc. In June, Anthony Pompliano, prominent investor and founder of ProCap Financial, announced that he had raised over $750 million for a $1 billion SPAC merger. ProCap is being pitched as a Bitcoin-native financial company and will join the list of publicly traded companies that hold BTC on their balance sheets.
According to data from bitcointreasuries.net, there are now more than 142 public companies globally holding Bitcoin, with a total value of about $112 billion. About two-thirds of this is owned by MicroStrategy, while other names such as Tesla, Coinbase, Galaxy Digital and Block also hold significant positions.
Cantor Expands Its Wall Street Influence
Cantor Equity Partners 1 raised $200 million in an IPO earlier this year, and is actively pursuing expansion strategies in the crypto space. Partnering with Adam Back, who is not only known for his role in the early development of Bitcoin but also runs Blockstream, one of the largest blockchain infrastructure companies, shows Cantor’s seriousness in investing in digital assets for the long term.
While the exact value and final structure of the deal have not been disclosed, if completed, the deal would mark a new milestone for both Cantor Fitzgerald and Blockstream in building an institutional-grade crypto treasury model. It also reflects a shift in political and financial stances as large institutions begin to view Bitcoin as a strategic asset.
The return of the Trump administration has also played a role in boosting positive sentiment towards the crypto industry in the US. As regulatory clarity and political support grow, firms like Cantor are taking advantage of the opportunity to establish a lead before the field becomes more crowded.
The deal with Adam Back is a bold move that demonstrates Cantor’s deep commitment to Bitcoin as a core asset in 21st-century financial portfolios. While the market is still waiting for official confirmation, investors are watching this development closely, as it could usher in a new wave of Bitcoin SPACs in 2025 and beyond.