Adam Back’s BSTR Set to Become 4th Largest BTC Hol

Adam Back’s BSTR Set to Become 4th Largest BTC Holder
Adam Back launches BSTR Holdings with 30K BTC via a $4B SPAC deal, making it the fourth-largest Bitcoin treasury and shaking up the market

Adam Back’s BSTR Holdings will launch with 30,021 BTC, making it the fourth-largest Bitcoin treasury in the world overnight.
Back’s $4B SPAC deal with Cantor Equity Partners signals growing Wall Street interest in holding Bitcoin as a long-term asset.
With over $1.5B in cash and 30K BTC, BSTR’s entry reshapes the crypto treasury game and boosts Bitcoin’s institutional adoption.
Bitcoin pioneer Adam Back is launching BSTR Holdings with 30,021 BTC, instantly placing the firm as the fourth-largest Bitcoin treasury. The move comes as part of a landmark SPAC deal with Cantor Equity Partners 1, backed by Wall Street heavyweight Cantor Fitzgerald. The SPAC, which raised $200 million in its January IPO, is in advanced talks with Back to secure over $3 billion worth of BTC. This blockbuster deal signals growing institutional confidence in Bitcoin’s long-term potential.
Back, through his firm Blockstream Capital, plans to contribute roughly 30,000 BTC—currently worth over $3 billion—to the SPAC. In return, he will receive shares in the newly formed entity, which will be renamed BSTR Holdings. The agreement also includes an additional $800 million in outside funding, bringing the total transaction to nearly $4 billion. Hence, this becomes the largest Bitcoin-focused SPAC deal to date.