What to know:
- Cantor Equity Partners 1 (CEPO) is soaring like a catapulted kangaroo after a late-night scoop from the FT about Bitcoin’s very own superhero, Adam Back.
- Word on the crypto street is that Back plans to toss a cool 30,000 bitcoin from his lavish treasure chest, courtesy of his company Blockstream Partners. That’s about as generous as handing out candy on Halloween! 🍬
- Far from any attempt to cash out, this whole shindig better illustrates Back’s commitment to nudging Bitcoin into the mainstream, says that insightful chap James Van Straten from CoinDesk.
As the morning sun began to rise over the U.S., CEPO found itself dancing around the $15 mark—an exhilarating leap of about 25% from the sleepy $12 it was at before Tuesday’s evening news broke like a piñata at a kid’s party.
Let’s recap: CEPO is basically a shiny blank check company focused on Bitcoin, helmed by Brandon Lutnick—who, besides being the head honcho of Cantor Fitzgerald, has the illustrious title of “son of former Trump administration Commerce Secretary Howard Lutnick.” Quite the family tree! 🌳
Now, according to the latest buzz from that ever-reliable FT report, CEPO aims to snag 30,000 BTC (the equivalent of nearly $3.5 billion—perfect for a weekend retreat in the Bahamas, if you’re into that sort of thing) from Back. In return, he’ll receive a stake in what’s about to rebrand itself glamorously as BSTR Holdings. Is that BSTR for ‘Best Shareholder Time Realized’? 🎉
Is Back cashing out?
Skeptics, bless their jaded hearts, might think this move suggests Back is looking to cash in some of his Bitcoin fortune, like a pirate opening a treasure chest after a decade of sailing the rough seas. 🏴☠️💰
But nay, that’s not the case, says our oracle James Van Straten.
“This partnership reflects Back’s unwavering belief that Bitcoin should be a staple in traditional finance portfolios, far from a mere liquidity event,” he states, dangerously close to using corporate buzzwords like ‘synergy’ and ‘leveraging.’ “Rather than making a hasty getaway to cash town, Back seems determined to bridge the chasm between the revolutionary world of Bitcoin and the pristine shores of Wall Street!”
Oh, and Van Straten also pointed out that Back’s throwing his own treasure into other Bitcoin ventures, effectively shouting, “I’m all in, folks!” It’s clear that Back’s ambitious aims are focused on expanding the opportunities for Bitcoin, rather than just counting his piles of virtual gold!
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2025-07-16 18:50