BSTR Holdings, led by legendary cryptographer Adam Back, has officially become the 4th largest corporate Bitcoin holder with 30,021 BTC on its balance sheet. In a massive move to expand its position, the firm also raised a record-setting $1.5 billion via PIPE financing — the largest ever in the Bitcoin space.
BSTR’s massive Bitcoin acquisition coincides with its announcement to go public through a SPAC merger with Cantor Equity Partners I (NASDAQ: CEPO). The transaction is being sponsored by Cantor Fitzgerald, a global financial giant known for bold moves in traditional and alternative assets.
The deal puts BSTR on a fast track to becoming a major institutional force in Bitcoin, with plans to expand its holdings using the newly raised funds.
“We’re putting unprecedented firepower behind a single mission,” said Adam Back. “By securing both fiat and Bitcoin funding on day one—including the first convertible preferred round in a Bitcoin treasury SPAC—we aim to accelerate global Bitcoin adoption.”
Alongside acquiring more BTC, BSTR plans to build Bitcoin-native capital markets products and advisory services, positioning itself not just as a treasury but as a cornerstone of the growing Bitcoin financial ecosystem.
Currently, Michael Saylor’s MicroStrategy holds the #1 spot with 601,550 BTC. But with BSTR’s ambitions and financial muscle, it could become a serious contender to eventually top that list.
Bitcoin reacted positively to the news, climbing back to $118,703 after briefly dipping. The daily range so far is between $117,508 and $120,065, with modest declines in trading volume over the past 24 hours.
