Crypto Acquisition Rush: Cantor Talks $4B Bitcoin Treasury Deal
Private equity arm Cantor Equity Partners 1 is involved in late-stage discussions to establish a $4 billion Bitcoin treasury, according to sources familiar with the arrangement.
The Proposed Deal
- Blockstream Capital founder Adam Back is reportedly contributing 30,000 BTC.
- Cantor Equity 1 would raise an additional $800 million from external investors for further Bitcoin acquisitions, significantly increasing the treasury’s holdings.
- Though specifics are unclear, the combined value positions the deal significantly above the $4 billion mark.
Background
This effort continues Cantor’s previous $3.9 billion cryptocurrency venture established in April, which partnered with Tether, Bitfinex, and SoftBank.
A Broader Trend
The development comes as special purpose acquisition companies (SPACs) backed by the cryptocurrency industry see increased demand for listings.
Cryptocurrency-friendly Regulatory Environment
Furthermore, a supportive regulatory climate, encouraged by the current administration, is facilitating this surge in SPAC activity.
Increasingly, traditional companies are also exploring Bitcoin treasury structures, following MicroStrategy’s lead in accumulating the cryptocurrency.
Evidence
Data provider bitcointreasuries.net confirms this trend, citing that over 142 public companies now hold Bitcoin, with a cumulative market value exceeding $112 billion.
Anticipation
Cantor Equity Partners 1 recently closed an initial public offering, raising $200 million in its debut.
Cantor Fitzgerald and Blockstream did not immediately confirm the details to requests for comment from Decrypt.
Other notable SPAC ventures currently under negotiation include a project led by Anthony Pompliano’s ProCap Financial.
