Cantor Fitzgerald Set to Make $4B Bitcoin Bet

Exchanging fiat for bitcoin has become almost commonplace. But entrusting this task to a historic figure in the crypto industry? That’s a whole different level of play. And that’s exactly what Brandon Lutnick, 27, son of the head of Cantor Fitzgerald and now president of the firm, has decided to do. Opposite him is Adam Back, the discreet cypherpunk behind Hashcash, whose BTC are worth billions. The stage is set.

A Wall Street Giant Opens the Checkbook for Physical Bitcoin

Cantor Fitzgerald did not choose a derivative product or a Bitcoin ETF. What it wants is real bitcoin, precisely 30,000 units, worth about 3.5 billion dollars. The vehicle for that? A SPAC. Yes, those shell companies listed on the stock market that you fill with an asset. Except here, the asset is not a startup: it’s the flagship crypto asset itself. Bitcoin.

And that’s not all. The maneuver also plans to raise an additional 800 million dollars. Objective: to buy even more BTC. This setup, worthy of a financial puzzle, could result in a publicly listed entity, renamed BSTR Holdings, with over 4 billion dollars in bitcoins in its coffers.

Why does Adam Back accept this deal? In exchange for his BTC, he receives shares in this new entity. Enough to align his interests with the increase of his own contribution. And for Lutnick, it is the assurance of getting his hands on a mountain of bitcoins without having to convince each investor one by one.

Lutnick does not hide his admiration for the king of cryptos. During a public exchange with Paolo Ardoino (Tether), he said:

The beauty of Bitcoin is its fixed supply.

A nod to those who prefer digital gold over printed dollars.

When Crypto Strategy Shifts Gear

At its core, this operation isn’t just a purchase. It’s a manifesto. A declaration of intent that says: finance no longer just watches bitcoin, it integrates it. And not through leveraged products, but through spot, real, tangible bitcoin.

And above all, this strategy fits within a major trend: accumulating BTC per share rather than maximizing earnings per share. This is exactly what Strategy (formerly MicroStrategy) has been doing since 2020. Cantor Fitzgerald, through Twenty One Capital and now BSTR, seems keen to go further.

This structural choice is accompanied by telling figures:

• 30,000 BTC transferred to a public entity: never seen at this scale;
• 4 billion dollars of capital mobilized on a pure Bitcoin strategy;
• 800 million dollars raised to strengthen positions;
• 10 billion dollars: Cantor’s cumulative BTC target by 2025;
• 2 crypto deals in 6 months for Brandon Lutnick: no coincidence.

And while others launch ETFs or indexes across multiple blockchains, Cantor sticks to bitcoin alone. A bold, radical positioning and potentially transformative for the entire crypto ecosystem.

Adam Back is no ordinary person. Satoshi Nakamoto cited his Hashcash. He has never denied being Satoshi. He keeps his privacy. And today, it is to him that Brandon Lutnick extends a hand. This gesture is surely no coincidence. The man who already, in 2023, publicly bet on a bitcoin at one million dollars is playing an even bigger card here. A card where bitcoin becomes not only a store of value but a pillar of a new monetary order.