The Bitcoin Standard Treasury Company (BSTR) will be published for over 30,000 Bitcoin after a business combination with Cantor Equity Partners I (CEPO), a special purpose acquisition company (SPAC) with ties to Global Financial Giant Cantor Fitzgerald.
BSTR will open with over $1.5 billion of pipe finance in addition to the balance sheet of BTC of 30,021 Bitcoin, or more than $3.5 billion. The majority of BTC is collected from founding shareholders, including well-known Bitcoin Jira and Blockstream Capital CEO Adam Back. Financial Times It first reported an imminent deal on Tuesday.
“Bitcoin is created as sound money, and BSTR is created to bring the same integrity to modern capital markets,” it said in the statement.
“By securing both Fiat and Bitcoin funding on the first day, including the first round of conversion priority announced alongside the Bitcoin Treasury space merger, we place the unprecedented firepower behind a single mission.
The company's funding will use a variety of products to raise up to $1.5 billion, including $400 million in common stock, up to $750 million in convertible banknotes and $350 million in convertible preferred stock. Use your online revenue to purchase BTC and “build a suite of Bitcoin native capital market products and advisory services.”
“As a longtime Bitcoin advocate, Cantor is extremely proud to partner with Dr. Back, one of Bitcoin's leading celebrities, to launch BSTR,” said Brandon Lutnick, chairman and CEO of Cantor Equity Partners I and son of U.S. Secretary of Commerce Howard Lutnick.
Brandon Lutnick is also chairman and CEO of Cantor Equity Partners and is also an entity undergoing a SPAC merger to recruit Bitcoin. Treasury Company Twenty One (xxi) Public A planned balance sheet for over 42,000 Bitcoin.
Both the BSTR and CEPO boards approved the respective business combinations. The transaction is expected to be finalized in the fourth quarter.
Once completed, the company has one of them The largest publicly traded bitcoin finance company It exists and only tracks the strategies of Marathon Digital Holdings (Mara) and Michael Saylor.
Cantor Equity Partners I (CEPO) shares are currently down nearly 9% and are trading at $13.89. Bitcoin rose 0.2% over the last 24 hours to $118,704, a 3.6% increase from 3.6% to $122,838, a recent history of $122,838.
