Cantor Fitzgerald-backed SPAC Targets $4 Billion Bitcoin Purchase 

Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick, is reportedly finalizing a multibillion-dollar Bitcoin acquisition deal through a special purpose acquisition company (SPAC) backed by Cantor Fitzgerald.

According to the information, Cantor Equity Partners 1 is in late-stage talks with Blockstream founder Adam Back to acquire over $3 billion in Bitcoin, with the total deal value expected to exceed $4 billion.

The proposed structure would see Back contribute as much as 30,000 BTC—worth more than $3 billion—in exchange for equity in the SPAC, which would be renamed BSTR Holdings. An additional $800 million in outside capital may also be raised to fund further Bitcoin purchases, marking one of the largest institutional crypto buy-ins this year.

This isn’t Lutnick’s first foray into large-scale Bitcoin acquisitions. In April, he led a $3.6 billion crypto buying initiative with backing from SoftBank and Tether. If completed, Cantor’s total digital asset exposure through BSTR Holdings and Twenty One Capital could near $10 billion in 2025.

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The deal highlights a growing trend of Wall Street institutions embracing Bitcoin through aggressive accumulation strategies, mirroring the playbook of MicroStrategy. It also coincides with “Crypto Week” in Washington, as lawmakers debate key legislation affecting the digital asset space.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.