Breaking: Cantor Fitzgerald Nears $4B Bitcoin Mega-Deal With Blockstream Founder—Institutional Floodgates Opening?
Wall Street's whispering again—this time about a Bitcoin end-run around traditional finance. Cantor Fitzgerald, the financial services heavyweight, is reportedly finalizing a $4 billion Bitcoin acquisition deal with Blockstream founder Adam Back. That’s not a typo: billion with a 'B.'
Why it matters: When institutional players throw this kind of weight behind crypto, it’s either a masterstroke or the prelude to a spectacular faceplant. Remember 2021’s 'institutional adoption' hype cycle? This time, the numbers don’t lie.
The subtext: Bitcoin’s proving it doesn’t need ETF approvals to get Wall Street’s attention—just old-fashioned billion-dollar OTC deals. Meanwhile, gold bugs are quietly sobbing into their vaults.
Bottom line: Whether this triggers a supply crunch or just another round of banker FOMO, one thing’s clear—the 'digital gold' narrative just got a $4B endorsement. Cue the institutional 'we were always believers' press releases in 3...2...
Cantor’s Growing Institutional Interest in Bitcoin
The deal, if completed, would mirror a $3.6 billion Bitcoin acquisition in April, directed by Lutnick that involves Soft Bank and Tether.
Brandon Lutnick took over as chairman of Cantor Fitzgerald early this year, after his father, Howard Lutnick, joined the TRUMP administration as commerce secretary.
Cantor’s combined SPAC, BSTR Holdings and Twenty One Capital, could accumulate nearly $10 billion in Bitcoin this year.
Additionally, in the Cantor-Blockstream deal, the investment banking giant would partner with one of the crypto industry’s earliest supporters – Adam Back.
Back, who has long championed institutional adoption as a path to “hyperbitcoinization,” has personally funded several Bitcoin-focused companies. In June, he funded a $15 million convertible bond for Swedish health technology and bitcoin treasury company H100 Group, which has plans to stockpile Bitcoin.
Crypto Investors Turn to SPAC or Reverse Mergers
Several crypto investors are turning to SPACs to publicly list their crypto ventures. Recently, Trump’s crypto adviser, David Bailey-led Nakamoto Holdings announced that it had raised $51.5 million for its own Bitcoin treasury firm, which it plans to take public via merger with KindlyMD.
Last month, Anthony Pompliano announced a $1 billion business merger to create a Bitcoin-native firm, ProCap Financial. The company will go public through a SPAC with Columbus Circle Capital Corp.
If completed, the Cantor SPAC deal would become the latest in a series of high-profile deals to buy Bitcoin.
