Cantor Fitzgerald believes in the future of Bitcoin. Which is exactly why they’re backing a billion dollar capital raise for a new SPAC deal.
What’s happening:
- Cantor Equity Partners I (NASDAQ: CEPO) has entered into a business combination agreement with Bitcoin Standard Treasury Company
By the numbers:
- The new SPAC transaction is aiming to raise a total of $1.5B USD for the sole purpose of accumulating Bitcoin to hold directly as an asset
- $400M USD will be raised through equity, with an additional $750M USD coming through convertible bonds and $350M USD coming from convertible preferred stock
- 25,000 Bitcoin are also being contributed in-kind to the new company from founding shareholders of Bitcoin Standard Treasury Company
Why it matters:
- Bitcoin Standard Treasury Company is led by Adam Beck, who is one of the earliest investors in Bitcoin as well as the co-founder of Blockstream and the inventor of Hashcash
Going deeper:
- Cantor Fitzgerald previously made major waves on Wall Street when their SPAC Cantor Equity Partners (NASDAQ: CEP) entered into a business combination with Twenty One Capital and formed a partnership with SoftBank and Tether in a multi billion dollar deal focused on accumulating Bitcoin
