The Bitcoin Standard Treasury Company, trading under the ticker BSTR, is preparing to go public through a SPAC merger with Cantor Equity Partners I Inc. (CEPO), bringing 30,021 BTC to the table and a plan to keep buying.
That opening stack would make BSTR roughly the fourth-largest public Bitcoin treasury holder at launch.
The deal structure and the team behind it
The SPAC merger with CEPO, a blank-check company from Cantor Fitzgerald, was announced in mid-July 2025. The target closing date is by the end of June 2026, after which BSTR would list on Nasdaq under its namesake ticker symbol.
The company has more than $1.5 billion in PIPE financing lined up to fuel further Bitcoin acquisitions. The goal is to push well beyond 50,000 BTC.
