It’s official: the Bitcoin Standard Treasury Company (BSTR) is set to become a publicly traded company through a merger with Cantor Equity Partners I, Inc. (Nasdaq: CEPO). Because what’s a better way to make money than by making money out of thin air? 💸
A Deal Fit for the Gods (of Finance)
The combined company will list on Nasdaq under the ticker symbol “BSTR” in the fourth quarter of 2025, pending shareholder approval. Because who needs actual money when you can have stocks and shares? 📈 BSTR Holdings Inc. and CEPO’s boards have unanimously approved the definitive agreement, which is just a fancy way of saying they’ve all agreed to make a lot of money together. 🤑
Upon closing, BSTR will hold a whopping 30,021 BTC on its balance sheet, making it the fourth-largest public corporate bitcoin treasury globally. That’s a lot of bitcoin. Like, a LOT of bitcoin. 🤯 This includes 25,000 BTC contributed by founding shareholders and 5,021 BTC from an in-kind PIPE financing priced at $10 per share. Because who needs actual cash when you can have bitcoin? 💸
Brandon Lutnick, a man who clearly knows a thing or two about making money, said on X: “I am excited to be part of the launch of Bitcoin Standard Treasury Company, led by the incredible Adam Back and his team. BSTR will merge with $CEPO to acquire ~30K Bitcoin on its balance sheet, which would make it the 4th largest public Bitcoin treasury.” 🚀
Lutnick added: “Cantor is embracing the power of bitcoin, and BSTR is a perfect example of that. This momentum is incredible. Congrats to all.” Because who doesn’t love a good bitcoin party? 🎉
“Bitcoin was created as sound money, and BSTR is being created to bring that same integrity to modern capital markets,” said Adam Back, CEO of BSTR and inventor of Hashcash. Because nothing says “integrity” like a cryptocurrency that’s only worth what people are willing to pay for it. 💸
The transaction includes up to $1.5 billion in fiat-denominated PIPE financing, because who needs actual money when you can have other people’s money? 🤑 This includes $400 million in committed common equity, up to $750 million in convertible senior notes, and up to $350 million in convertible preferred stock. CEPO could contribute approximately $200 million, subject to shareholder redemptions. Because who doesn’t love a good game of financial Jenga? 🎲
BSTR will be led by CEO Adam Back and Chief Investment Officer Sean Bill, an institutional investment veteran. The company stated that net proceeds will fund additional bitcoin acquisition and developing bitcoin-native capital markets products and advisory services. Because who needs actual products when you can have bitcoin? 🤔
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2025-07-17 22:27