Cantor Fitzgerald works with Adam Back to launch another company with Bitcoin Treasury

By Hannah Pérez

The Wall Street Bank, Cantor Fitzgerald, promotes a second agreement to launch a company with Bitcoin Treasury. This time next to the pioneer Adam Back. The company could be released with 30,000 BTC in its treasury.

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• The Wall Street bank, singer Fitzgerald, supports creation of Bitcoin company.
• It is the second agreement that Cantor establishes to launch a firm focused on Bitcoin Treasury.
• He would be collaborating with Pioneer Adam Back for an agreement valued at more than USD $ 3 billion.
• Cantor, Tether and Softbank launched Twenty One with 42,000 BTC in Treasury this year.

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The investment bank Fitzgerald singer He is making a new effort to launch a company with treasury Bitcoin.

After working with the issuer of Stablecoins Tether and the Japanese investment firm SoftBank Group, To create the company Twenty One, Singer now he has joined the pioneer of BitcoinAdam Back, for a second agreement destined to lift a company Bitcoin.

According to a report from Financial Times, which was collected by several news media, a subsidiary of the Wall Street bank is in advanced stage conversations with Back for an agreement that could be worth more than 3 billion dollars.

As part of the agreement, Back will contribute about 30,000 Bitcoins in exchange for actions in a newly formed entitywhat would be called Bstr Holdings. The bank’s blank check company will buy the Bitcoins (BTC) –today valued at USD $ 3.5 billion– And also seeks to raise USD $ 800 million of external capital, according to the report.

The agreement involves Cantor Equity Partners 1the Special Purpose Acquisition Company (SPAC) of the bank that collected $ 200 million in January, and Capital Blockstreama cryptocurrency trade group founded and directed by Back.

The publication suggests that conversations are directly between the CEO of SingerBrandon Lutnick, the 27 -year – Bitcoin Since its first days, maintaining direct communication with its creator, Satoshi Nakamoto.

The ambitions of the new company include offering advice, asset management and other financial services in addition to maintaining tokens, people with knowledge of the matter said, and a final agreement could be announced in a few days, although the terms are still being negotiated, as reported Bloomberg.

Bitcoin Treasury are a booming trend

The news occurs in the middle of the accelerated emergence of cryptocurrency treasures. An increasingly large group of public and private companies in the world have rushed the last year to convert Bitcoin In its main treasury asset, replicating the model that Strategyby Michael Saylor, have been promoting since 2020.

According to data from Bitcoin Treasuriesabout 150 public companies currently maintain more than 860,000 BTC for a value that amounts to USD $ 102 billion at the time of writing these lines.

Fitzgerald singer had presented in April Twenty Onea new business focused on native products and services Bitcoinwith the express intention of becoming the largest public of the cryptocurrency. The company launched with support from Tether, SoftBank and from the founder of StrikeJack Mallers, and with a total of 42,000 BTC in his treasury.

Back has personally supported several companies focused on Bitcoin This year, including the Swedish H100 Group and the French The Blockchain Group.

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Hannah Estefanía Pérez / Diariobitcoin

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