BSTR, Led by Adam Back, Actively Prepares for Nasdaq Listing with $1.5 Billion Investment to Acquire Bitcoin

Coin Circle (120BTC.COm) reports: Bitcoin Standard Treasury Company (BSTR), led by Adam Back, plans to invest $1.5 billion to acquire Bitcoin (BTC) after completing its public market listing. Based on current market prices, this amount is expected to purchase approximately 23,500 Bitcoins, bringing the company's total holdings to over 53,500, making it a significant player in the publicly traded Bitcoin holding companies.

BSTR Advances CEPO Merger Proposal, Actively Prepares for Nasdaq Listing
BSTR is currently advancing its merger proposal with Cantor Equity Partners (CEPO). This entity is initiated by the SPAC (Special Purpose Acquisition Company) Cantor Fitzgerald, with Brandon Lutnick, son of U.S. Secretary of Commerce Gina Raimondo, serving as chairman. Shareholders are expected to vote on the merger on June 26, and if approved, BSTR will officially list on the Nasdaq exchange. Currently, Cantor has postponed the vote on Adam Back's $4 billion Bitcoin treasury SPAC merger proposal, delaying the shareholder meeting to July 10.

If the merger proposal is successfully passed, BSTR will initially hold 30,021 Bitcoins contributed by the founding shareholders of Blockstream Capital. The subsequent $1.5 billion capital increase will be conducted in conjunction with the SPAC merger, which includes convertible preferred notes, convertible preferred shares, and common stock.

Samson Mow: Entering Bitcoin at $60,000 Helps Lower Acquisition Costs for Profitability
BSTR's long-term goal is to introduce Bitcoin standards into modern capital markets. In addition to purely accumulating assets, the company also plans to develop financial products priced in Bitcoin and provide fund management consulting services to other enterprises.

In terms of accumulation strategy, compared to the current major holder MicroStrategy (Ticker: MSTR), which continues to accumulate during price increases, BSTR prefers to operate when market prices pull back. Samson Mow, CEO of JAN3, pointed out that investing when Bitcoin prices fluctuate around $60,000 will result in a significantly lower average acquisition cost than companies entering at the peaks in 2024 and 2025, which is beneficial for enhancing future potential profit margins.

Ranking of Corporate Bitcoin Holdings
Market data shows that, aside from MicroStrategy currently holding over 840,000 Bitcoins, the growth momentum of other companies allocating Bitcoin in their financial assets has slowed compared to the peak period in 2025. If BSTR successfully increases its holdings to 53,500 Bitcoins, its ranking is expected to surpass competitors like Marathon, placing it among the top publicly traded companies.

BSTR's operational model is similar to MicroStrategy, raising funds through equity and credit instruments and converting them into crypto assets. BSTR officials revealed that after listing, they plan to utilize Put Selling and BuyBack mechanisms to optimize overall capital allocation, aiming to increase the intrinsic value of Bitcoin assets represented per share over time.

If the merger proposal is successfully passed, the $1.5 billion fundraising plan and subsequent Nasdaq listing process will officially commence. Against the backdrop of slowing overall corporate allocation of crypto assets, the entry of new institutional funds at this time will become an important market indicator of whether the Bitcoin reserve model can continue to advance.

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