Bitcoin Standard Treasury Co. (Bstr)a bitcoin
Treasury Vehicle led by cryptographic pipions Adam Back sees itself as a business with a mission to speed up the real world Bitcoin recording.
But it is perhaps on another milestone: to become one of the biggest company’s Bitcoin holders.
The company preparing to become public on Nasdaq by merging with Cantor Equity Partners (CEPO)Already has 30,021 BTC on its balance with plans to grow its stack over 50,000 coins.
This will put it on the road for potential overhaul of Mara Holdings (Mara) As the second largest business owner of BTC behind strategy. Mara has more than 50,600 BTC according to BitCintreasuries.net. Strategy has almost 629,000.
Currently, Mstr, Mara and Bstr collectively have approx. 710,000 Bitcoin, which represents approx. 3.38% of Bitcoin’s regular supply of 21 million.
‘Liquidity, security and scale’
Unlike some corporate tax boxes that sit on Bitcoin passively, Bstr intends to use techniques that include the sale of put to accumulate BTC at lower prices, use Bitcoin-supported revolvers and place collateral with regulated Tri-Party Custodians.
“We are not interested in chasing defi yield or taking on counterparty risk that we cannot control. This is about liquidity, security and scale,” said back exclusively with Coindesk. “Bitcoin was created as a sound money and Bstr is created to bring the same integrity to modern capital markets.”
The Cantor SPAC agreement is combined for the first time traditional Wall Street funding with a Bitcoin-Denominated Private Location of Equity (TUBE).
In addition to 25,000 BTC, contributed by the company’s founders, another 5,021 BTC from the Bitcoin community is raised.
The company also collects up to $ 1.5 billion in Fiat financing, the largest tube ever announced along with a Bitcoin Treasury SPAC fusion.
- 400 million dollars in joint equity for $ 10 per Stock.
- Up to $ 750 million in convertible seniorotats (30% conversion premium, $ 13 per share).
- Up to $ 350 million in convertible preferred shares with a 7% dividend and a $ 13 per Equivalent Equivalent Conversion Price.
CEPO could add up to $ 200 million from its confidence, subject to redemptions.
“By ensuring both Fiat and Bitcoin financing on the first day, we put unprecedented firepower behind a single mission: Maximization of Bitcoin ownership per year.
A first to Bitcoin -State Boxes
The tube in nature allows investors to deliver BTC by closing and potentially catching upward before settlement. Back said the procedure was designed to appeal to both crypto-native players and traditional leaders seeking exposure without waiting for market purchases after close.
The company’s CIO SEAN BILL, who previously helped a US pension fund to make one of the first institutional awards to BTC, said the strategy reverberated with traditional investors. “We build Berkshire Hathaway (BRK) of Bitcoin, an actively controlled treasury that will pursue yield and alpha strategies, and strategic acquisitions within the Bitcoin ecosystem ”.
“We are tilting the manuscript on Wall Street when we seek to melt Bitcoin into financial and capital markets, unlike other treasury companies, we are not coming to Wall Street looking for Fiat -currency to buy Bitcoin, we show up with a 25,000 Bitcoin obligation and more importantly we issued the first bitcoin in From and Bitcoiners.
Bridging Bitcoin and Wall Street
The leadership team sees Bstr as a bridge between the Bitcoin ecosystem and institutional capital markets.
“We bring the traders we bring Bitcoiners to Wall Street,” said back, noting that the potential of the US market’s liquidity amplifies success with Bitcoin-denominated converters that have already been given traction in Europe.
The deal is expected to close in the fourth quarter, with the company trading under the reserved ticker BSTO. If the increase is fully subscribed, the launch can set a new scale record for corporate bitcoin treasuries and offer a template to others who want to merge audio money with modern market instruments.
