Cantor Fitzgerald’s $10 Billion Bitcoin Shopping Spree Shakes Crypto Markets

• Cantor Fitzgerald’s SPAC is buying 30,000 BTC from Adam Back’s Blockstream Capital in a deal worth over $3 billion. 

• The company plans to raise another $800 million and rebrand BSTR Holdings to focus on Bitcoin accumulation. 

• This deal could push Cantor’s 2025 Bitcoin purchases close to $10 billion and follows their earlier $3.6 billion crypto partnership with SoftBank and Tether.

Cantor Fitzgerald’s SPAC vehicle is in late-stage talks to acquire approximately 30,000 BTC from Blockstream Capital, marking another major institutional Bitcoin purchase. Cantor Equity Partners 1 is reportedly negotiating with Back to purchase over $3 billion worth of Bitcoin, with the deal potentially closing this week.

The vehicle also plans to raise up to $800 million in outside capital to expand bitcoin purchases, bringing the total deal value to more than $4 billion. The acquisition represents a significant expansion of Cantor Fitzgerald’s cryptocurrency exposure under the leadership of Brandon Lutnick, son of Commerce Secretary Howard Lutnick.

SPAC Transformation and Strategic Rebranding

In exchange for the Bitcoin, Back and Blockstream Capital would receive shares in the Cantor Vehicle, which will be renamed BSTR Holdings. This strategic move follows Cantor Fitzgerald’s established pattern of creating Bitcoin-focused investment vehicles through SPAC structures.

The deal structure mirrors traditional corporate acquisitions but centers entirely around cryptocurrency assets. Sources familiar with the negotiations indicate the terms could still change before finalization, though completion appears imminent given the advanced stage of discussions.

Building on Previous Cryptocurrency Ventures

The $4B Blockstream Capital deal follows another $3.6B crypto-buying venture Lutnick struck earlier this year with SoftBank and Tether. This partnership launched Twenty One Capital, demonstrating Cantor Fitzgerald’s commitment to large-scale Bitcoin treasury strategies.

Together, these deals could push Cantor’s 2025 Bitcoin acquisitions near $10 billion, positioning the firm as one of the largest institutional Bitcoin holders. The timing coincides with the US House of Representatives‘ Crypto Week, highlighting the growing institutional acceptance of digital assets.

Adam Back’s involvement adds significant credibility to the transaction. As a co-founder and CEO of Blockstream Corporation, Back has been instrumental in Bitcoin’s technical development and represents one of the cryptocurrency’s earliest supporters. His decision to partner with Cantor Fitzgerald signals confidence in institutional Bitcoin adoption.

The deal occurs amid broader corporate Bitcoin accumulation trends. Treasury companies have added hundreds of millions in Bitcoin value to their balance sheets recently, while Bitcoin prices have reached new all-time highs above $120,000.

Cantor Fitzgerald’s aggressive Bitcoin strategy reflects a fundamental shift in traditional Wall Street attitudes toward cryptocurrency investments. The firm’s willingness to commit billions to Bitcoin acquisitions demonstrates how digital assets are becoming mainstream institutional holdings rather than speculative investments.