Brandon Lutnick, 27-year-old chairman of Cantor Equity Partners 1, is spearheading a $3 billion Bitcoin treasury deal with Adam Back's blockchain firm Blockstream. The transaction involves Blockstream contributing up to 30,000 BTC in exchange for equity in BSTR Holdings, positioning Cantor Fitzgerald and its affiliates among the world's largest institutional Bitcoin holders by 2025.
This follows Lutnick's previous $3.6 billion crypto deal with SoftBank earlier in 2025. Upon completion, the acquisition could expand Cantor's Bitcoin holdings beyond $10 billion. Lutnick emphasized this demonstrates "growing institutional commitment to large-scale crypto treasury deals," drawing parallels to MicroStrategy's accumulation strategy. Financial analysts note such transactions typically drive adoption, with one stating: "Large institutional deals chart a new course for Bitcoin adoption."
The deal aligns with favorable U.S. legislative trends and may significantly impact Bitcoin's on-chain liquidity and market dynamics. However, no direct effects on Ethereum or altcoins are anticipated. SPAC structures are increasingly used for such acquisitions, potentially increasing demand for regulatory clarity around Bitcoin-backed financial products.