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Cantor Fitzgerald Set to Conclude $4 Billion Bitcoin Purchase Agreement with Blockstream Founder: Report
Wall Street investment bank Cantor Fitzgerald and Blockstream Capital founder Adam Back are reportedly engaged in a SPAC merger estimated at around $4 billion.
Brandon Lutnick, the Chairman of Cantor Fitzgerald, is in “advanced discussions” with Back regarding a direct Bitcoin transfer arrangement, surpassing $3 billion, according to sources cited by the Financial Times.
Cantor Equity Partners 1, a special-purpose acquisition company, plans to issue new shares to Back in exchange for 30,000 Bitcoin.
Moreover, the firm aims to secure $800 million in external funding for further Bitcoin acquisitions, as stated in the report. Upon the transaction’s completion, the entity will be renamed BSTR Holdings.
Cantor Equity Partners 1 was established in January with $200 million from its IPO, targeting investments in the cryptocurrency sector.
JUST IN: Cantor Fitzgerald is nearing a $4B SPAC deal with @adam3us & @Blockstream to acquire 30,000+ BTC.
➤ #Bitcoin contributed for equity
➤ Up to $800M in additional capital raised
➤ Mirrors $3.6B SoftBank–Tether venture
Another major move in the rise of corporate… pic.twitter.com/pzfiEgHhdg— Bitcoin For Corporations (@BitcoinForCorps) July 15, 2025
Cantor’s Expanding Institutional Interest in Bitcoin
If finalized, the agreement would reflect a $3.6 billion Bitcoin acquisition from April, led by Lutnick, involving Soft Bank and Tether.
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Brandon Lutnick assumed the role of chairman of Cantor Fitzgerald earlier this year, following his father, Howard Lutnick, joining the Trump administration as commerce secretary.
Cantor’s combined SPAC, BSTR Holdings and Twenty One Capital, could amass nearly $10 billion in Bitcoin this year.
Additionally, in the Cantor-Blockstream arrangement, the investment banking powerhouse would collaborate with one of the crypto sector’s early advocates – Adam Back.
Back, who has consistently promoted institutional adoption as a pathway to “hyperbitcoinization,” has personally invested in multiple Bitcoin-centric companies. In June, he financed a $15 million convertible bond for Swedish health technology and Bitcoin treasury firm H100 Group, which intends to accumulate Bitcoin.
Crypto Investors Opt for SPAC or Reverse Mergers
A number of crypto investors are turning to SPACs to publicly list their cryptocurrency initiatives. Recently, David Bailey-led Nakamoto Holdings, an advisor to Trump on crypto, announced it had raised $51.5 million for its own Bitcoin treasury firm, which it plans to take public through a merger with KindlyMD.
Last month, Anthony Pompliano revealed a $1 billion business merger aimed at establishing a Bitcoin-native company, ProCap Financial. The firm will go public via a SPAC with Columbus Circle Capital Corp.
If finalized, the Cantor SPAC deal would mark the latest in a series of notable transactions aimed at acquiring Bitcoin.
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