Bitcoin treasury news: Adam Back's SPAC merger with Cantor Equity Partners could come as soon as April
Adam Back's BSTR anticipates shareholder approval for its SPAC merger with Cantor Equity Partners as early as April for a public listing.Summary
Adam Back, CEO of Bitcoin Standard Treasury Company (BSTR), remains optimistic about achieving shareholder approval for a public listing via a SPAC merger with Cantor Equity Partners I (CEPO) as soon as April, despite the recent severe price decline in Bitcoin and the poor performance of other BTC treasury companies.
BSTR plans to debut with 30,000 bitcoin on its balance sheet, with 25,000 contributed by Back and founding shareholders, and 5,000 from early investors. Back suggested that the lower current Bitcoin price could actually benefit BSTR by allowing them to accumulate more BTC at discounted levels before listing, potentially strengthening their balance sheet.
Back attributed Bitcoin's recent pullback to broader macroeconomic factors like geopolitical tensions, rather than regulatory concerns in the U.S. He views bitcoin treasury companies as playing a supportive, long-term bullish role by continuously removing BTC from the market.
(Source：CoinDesk)