The Financial Times reported that Brandon Lutnick, chairman of Cantor Fitzgerald, is nearing a substantial agreement exceeding $3 billion with Adam Back, CEO of Blockstream. The proposed deal involves the acquisition of 30,000 BTC, valued at nearly $3.5 billion currently, with Cantor Equity Partners 1 purchasing the Bitcoin in exchange for shares and renaming the entity to BSTR Holdings.

In addition to this transaction, the entity aims to raise $800 million in external financing. Cantor Fitzgerald previously launched a similar investment arm named Twenty One Capital, backed by companies like SoftBank and Tether.

Recent trends reflect a growing movement of public companies engaging in cryptocurrency treasury strategies, with investors backing acquisitions of digital assets such as Bitcoin (BTC) and Ethereum (ETH). Adam Back has also supported various Bitcoin-centered firms, reinforcing his ongoing commitment to the sector.