The American Financial Services firm Cantor Fitzgerald is allegedly planning to acquire more than $ 3.5 billion bitcoins from the blockstream capital of Adam Back.
27 -year -old son of US Commerce Secretary Howard Lutnik on Tuesday, according to reports from Financial Times and Bloomberg, is close to finalizing a deal to buy bitcoin (BTC) through his firm Cantor Fijarld, which cited the acquaintance of the case.
The deal consists of Cantor Equity Partners 1, a blank-check special purpose acquisition company (SPAC), which raised $ 200 million in January, and blockstream capital, a Crypto Trading Group that is a Crypto Trading Group founded by Bitcoin Pioneer Adam.
Blockstream canter can swap 30,000 BTC for stake
The blockstream will reportly contribute more as 30,000 bitcoins, currently a value of $ 3.5 billion in exchange for the shares of the canter vehicle, which will be renamed to BSTR holdings.
The deal also includes a plan to increase additional external capital to $ 800 million for purchasing bitcoin.
Financial Times reported that a deal may come early this week, but its terms may still change.
Diving in bitcoin
If complete, the deal will make the canter one of the world’s top bitcoin buyers, and its two vehicles, BSTR holdings and twenty -one combined a joint crypto purchase between a capital, can reach about 10 billion dollars this year, the report states.
The latest news follows the previous $ 3.6 billion Crypto Deal Cantor Fitzgerald, which was designed with SoftBank and Tether in April to create a bitcoin acquisition company.
Brandon Lutnik became the chairman of the finance firm in February after Trump confirmed as a business officer.
Strategy copy
This step is part of a comprehensive trend of bitcoin-origin capital formation as companies form strategies around maximizing BTCs instead of earning per share.
Connected: Maple Finance, Falconx safe bitcoin-supported loan from canter Fijarld
Twenty One Capital aims to follow Michael Sayler’s strategy, which has submitted a $ 70 billion bitcoin since 2020. The canter stopped the deal to lend his first bitcoin in May.
The back in the history of bitcoin is a notable person, as his 1997 Hashshash Cryptographic work was quoted by the pseudo-name of bitcoin, Satoshi Nakamototo, and became the founder for the Bitcoin’s proof-off-work unanimous.
magazine: Genius Act near Bitcoin vs Stablecoins Shodown Looms
