American financial services powerhouse Cantor Fitzgerald is reportedly on the verge of a colossal Bitcoin acquisition, planning to purchase more than $3.5 billion worth of BTC from Adam Back’s Blockstream Capital. This strategic move, led by Brandon Lutnick, the 27-year-old son of US Commerce Secretary Howard Lutnick, underscores a significant acceleration of institutional interest in Bitcoin.
According to reports from the Financial Times and Bloomberg, the deal involves Cantor Equity Partners 1, a blank-check special purpose acquisition company (SPAC) that raised $200 million in January, and Blockstream Capital, the crypto trading and investment arm founded by Bitcoin pioneer Adam Back.
Key Details of the Mega-Deal:
- 30,000 BTC Swap: Blockstream is expected to contribute as much as 30,000 Bitcoin, currently valued at approximately $3.5 billion, in exchange for shares in the Cantor vehicle, which will be rebranded as BSTR Holdings.
- Additional Capital Raise: The deal also includes ambitious plans to raise up to $800 million in additional outside capital, earmarked specifically for further Bitcoin purchases.
- Imminent Announcement: Reports suggest a deal could be finalized as early as this week, though terms remain subject to change.
If completed, this acquisition would solidify Cantor Fitzgerald’s position as one of the world’s leading Bitcoin holders. Combined with its existing crypto ventures, including Twenty One Capital, Cantor’s total Bitcoin purchases could approach an astounding $10 billion this year. This latest development follows a previous $3.6 billion crypto deal Cantor Fitzgerald executed with SoftBank and Tether in April, specifically to create a Bitcoin acquisition company.
Brandon Lutnick assumed the role of chairman at Cantor Fitzgerald in February, following his father’s confirmation as a top US trade official. His leadership appears to be driving the firm’s aggressive foray into the digital asset space.
Emulating the “Bitcoin-Native” Strategy:
This substantial investment by Cantor Fitzgerald is part of a growing trend of “Bitcoin-native capital formation,” where companies are strategically focused on maximizing their Bitcoin per share, rather than solely focusing on earnings per share. Twenty One Capital, another Cantor-affiliated vehicle, aims to replicate the highly successful strategy pioneered by Michael Saylor’s MicroStrategy (now Strategy), which has accumulated a staggering $70 billion worth of Bitcoin since 2020. Cantor had already ventured into the Bitcoin lending market in May.
Adam Back, a revered figure in Bitcoin’s history, is notable for his 1997 Hashcash cryptographic work, which was cited by Satoshi Nakamoto and became a foundational element of Bitcoin’s proof-of-work consensus mechanism. His involvement in this deal further highlights the convergence of early crypto pioneers with established financial institutions.
July 2025, Cryptoniteuae
