Cantor Fitzgerald Poised to Cement Role as Bitcoin Powerhouse in $4B Blockstream Deal
Cantor Fitzgerald nears a $4B Bitcoin acquisition via Blockstream SPAC, solidifying its aggressive crypto strategy for 2025.
In a bold move that could redefine institutional involvement in digital assets, Cantor Fitzgerald is reportedly in advanced negotiations to acquire over $4 billion in Bitcoin from blockchain infrastructure firm Blockstream. If finalized, the agreement would mark one of the largest institutional crypto deals to date, signaling a decisive pivot by the Wall Street firm toward digital assets.
Sources close to the matter say Blockstream, co-founded by Bitcoin pioneer Adam Back, plans to transfer as much as 30,000 BTC into Cantor Equity Partners 1, a special purpose acquisition company (SPAC) that raised $200 million earlier this year. In exchange, Blockstream would receive equity in the SPAC, which will be rebranded as BSTR Holdings.
While the transaction is not yet finalized, it’s reportedly nearing completion and could be signed by week’s end. Plans are also underway to raise up to $800 million in additional capital, bringing the total value of the deal beyond $4 billion.
More than a massive purchase, the initiative reveals Cantor Fitzgerald’s deepening strategy to align with the U.S. administration’s increasingly crypto-positive stance. Led by newly appointed chairman Brandon Lutnick, the firm is using innovative vehicles like SPACs and hybrid financial instruments to gain exposure to Bitcoin, with an eye on optimizing BTC per share. The approach echoes Michael Saylor’s tactics at MicroStrategy, but with a broader institutional toolkit.
Beyond asset accumulation, BSTR Holdings is expected to evolve into a diversified financial platform. Reports suggest future offerings will include advisory, asset management, and other digital asset services, with Adam Back emerging as its public face. A cryptography veteran whose Hashcash algorithm was cited in Satoshi Nakamoto’s seminal Bitcoin whitepaper, Back’s presence underscores the venture’s credibility in the crypto sphere.
This would be Cantor Fitzgerald’s second major Bitcoin undertaking in 2025. Earlier this year, the firm co-launched Twenty One Capital—a $3 billion BTC-backed public entity—alongside Tether, Bitfinex, and SoftBank. That initiative featured a $350 million convertible bond and a $200 million private equity round, reflecting the firm's commitment to aggressive crypto positioning.
Just weeks before that, Cantor had unveiled a $2 billion Bitcoin financing framework with Anchorage Digital and Copper.co managing custody and collateral. The momentum suggests Cantor isn’t merely dipping its toes into crypto—it’s anchoring its future to it.
As the financial sector continues adapting to the realities of blockchain-based value, Cantor Fitzgerald’s deepening role could influence how traditional finance engages with decentralized assets .
