Cantor Fitzgerald is set to finalise a $4bn bitcoin acquisition via its special-purpose acquisition company (SPAC), Cantor Equity Partners 1.
The deal involves Blockstream’s Adam Back and includes a direct bitcoin transfer valued at $3bn in surplus.
Launched in January, Cantor Equity Partners 1 is designed to target digital asset investments.
Fitzgerald’s recent appointment of Brandon Lutnick as chairman of its SPAC aims to align the firm with growing institutional interest in bitcoin through these deployments.
Initially, the SPAC raised $200m from its initial public offering and is now seeking up to $800m from external investors to fund further bitcoin purchases.
If fully subscribed, the additional capital could push the total transaction value beyond $4bn.
Adam Back, co-founder of Blockstream, is contributing the bitcoin in exchange for a stake in Cantor Fitzgerald’s SPAC.
The proposed deal with Cantor Fitzgerald enhances Back’s bitcoin strategy while positioning the firm as one of the leading institutional holders of cryptocurrency.
Cantor Fitzgerald has made similar moves recently with its separate SPAC, Twenty One Capital, which has also acquired bitcoin, bringing the firm’s year-end target to nearly $10bn
