Cantor Fitzgerald SPAC Close to $4B Deal with Adam Back for 30,000 Bitcoin

Highlights:

• Cantor may acquire 30,000 BTC from Blockstream, worth over $3.5 billion currently.
• The firm plans to raise $800 million more, pushing the deal beyond $4 billion.
• Combined crypto purchases may reach $10 billion through BSTR Holdings and Twenty One Capital.

Cantor Fitzgerald, a well-known American financial services firm, is reportedly getting ready to acquire more than $3.5 billion worth of Bitcoin from Blockstream Capital, a company led by noted crypto figure Adam Back, according to a July 15 report by the Financial Times. Cantor Equity Partners 1, a special-purpose acquisition company backed by Cantor Fitzgerald, is working on a major BTC deal with Blockstream Capital.

JUST IN: Cantor Fitzgerald close to $4 billion SPAC deal with Adam Back "to buy billions of dollars" of Bitcoin 🚀 pic.twitter.com/wTiVkyWghH

— Bitcoin Magazine (@BitcoinMagazine) July 15, 2025

As part of the agreement, the SPAC intends to issue new shares to Adam Back in return for as much as 30,000 Bitcoins. Once the deal is complete, the Cantor vehicle will be renamed BSTR Holdings. The firm is also planning to raise an additional $800 million in external capital to further enhance its cryptocurrency purchasing capacity. This added funding would push the total value of the transaction beyond $4 billion, underscoring a significant strategic commitment to digital assets.

Financial Times reported:

“A deal could come as early as this week, said the people, who cautioned that terms could still change. If completed in the coming days, it would come during what Republican lawmakers have dubbed “crypto week” as they debate legislation tied to digital currencies.”

Cantor Fitzgerald Targets $10B in Crypto

This marks Cantor’s second major Bitcoin transaction in 2025, following a $3.6 billion deal made in April with SoftBank and Tether. When combined with the latest initiative, Cantor’s overall cryptocurrency acquisitions through BSTR Holdings and Twenty One Capital could approach a total of $10 billion by the end of the year.

If the SPAC successfully finalizes the acquisition and raises additional funds, BSTR Holdings would become one of the largest publicly listed Bitcoin holders globally. It would rank just behind Strategy and a few spot Bitcoin ETF trusts. This move is part of a larger trend where companies are building capital around BTC. Instead of just focusing on earnings per share, they are now aiming to increase the amount of Bitcoin they hold per share.

Cantor Uses SPAC to Follow Saylor’s Bitcoin Buying Strategy

The Financial Times reported that the Cantor deal is the latest in a growing wave of major transactions where special-purpose companies are used to acquire Bitcoin. These firms, known as SPACs, allow investors to quickly gather large amounts of Bitcoin through a single move. This approach is becoming popular among those looking to follow Michael Saylor and his company, Strategy, which is widely known for aggressively buying and holding Bitcoin.

Adam Back co-founded Blockstream in 2014 with support from big investors like Khosla Ventures and Baillie Gifford. He is also making personal investments to grow the Bitcoin space in Europe. Recently, he invested €5 million in The Blockchain Group, a company based in France. He also gave $15 million through a convertible bond to H100 Group in Sweden. This company works in health tech and also holds Bitcoin as part of its financial strategy.