Bitcoin Standard Treasury Company (BSTR) is set to go public via a merger with Cantor Equity Partners I, with plans to open with over $3.5 billion in Bitcoin value. The firm will be led by Adam Back, CEO of Blockstream Capital, and will launch with more than 30,000 Bitcoin along with $1.5 billion in financing. Back aims to enhance capital markets integrity through this initiative, emphasizing the need for real-world Bitcoin adoption. The financing strategy includes selling equity, convertible notes, and preferred stock, with proceeds dedicated to purchasing Bitcoin and developing Bitcoin-centric financial products. The merger is part of a broader trend towards institutional investments in Bitcoin, with BSTR positioned as a major player in the Bitcoin treasury space upon completion of the deal in Q4. Shares of Cantor Equity Partners I have experienced a dip amid fluctuating Bitcoin prices, which recently hit a peak near $122,838.

Source đź”—