American financial services firm Cantor Fitzgerald is reportedly planning to acquire more than $3.5 billion worth of Bitcoin from Adam Back’s Blockstream Capital. The deal involves Cantor Equity Partners 1 and Blockstream Capital, with Blockstream potentially swapping 30,000 BTC for a stake in Cantor, which could be renamed BSTR Holdings. The deal also includes plans to raise up to $800 million in additional capital for further Bitcoin purchases.

If completed, this deal would make Cantor one of the world’s top Bitcoin buyers, with combined crypto purchases from its two vehicles potentially reaching nearly $10 billion this year. This news follows a previous $3.6 billion crypto deal Cantor Fitzgerald made with SoftBank and Tether in April. Brandon Lutnick, son of US Commerce Secretary Howard Lutnick, is involved in the deal, becoming chair of the finance firm in February.

The move by Cantor Fitzgerald is part of a trend of Bitcoin-native capital formation, focusing on maximizing BTC per share rather than just earnings per share. Twenty One Capital aims to emulate Michael Saylor’s strategy of accumulating large amounts of Bitcoin. Adam Back, founder of Blockstream Capital, is a notable figure in Bitcoin’s history, with his Hashcash work cited by Satoshi Nakamoto.

Read more at Cointelegraph: Cantor Fitzgerald Plans $3.5B Bitcoin Buy From Blockstream