Cantor Equity Partners I (Cepo) Changing hands just less than $ 15 in morning action in the United States, up approximately 25% of the level of $ 12 to which he exchanged before a history of end of diaphonge of the FT that the company and Adam of return approached a funding contract of 3.5 billion dollars.
To examine, CEPO is the Blank Check Bitcoin cash company led by Brandon Lungick – President of the Wall Street investment bank, Cantor Fitzgerald and son of the Trump administration, Howard Lutnick.
According to the FT report, Cantor Equity Partners 1 acquires 30,000 BTC (nearly $ 3.5 billion at current prices) of the rear. In return, the back would receive equity in the vehicle, which would be renamed Bstr Holdings. The CEPO also seeks to lift another $ 800 million in additional capital to acquire even more BTC, according to the report.
Removal behind?
Cynics might believe that the movement signals a desire by back – one of the Bitcoin OGs whose cryptography work was used by the creator of the Satoshi Nakamoto network – to take advantage of some of its vast BTC participations.
This could not be further away from the truth, according to Coindesk’s main analyst, James Van Stratot.
“Far from being a simple liquidity event for the back, this partnership underlines its long -term conviction that Bitcoin should become a class of basic assets in traditional finance portfolios,” said Van Straten. “Rather than taking advantage, the back seems determined to take advantage of institutional vehicles to push Bitcoin later in the dominant financial current, filling the gap between the native innovation of the BTC and the capital of Wall Street.”
Van Stratot also noted that Back had invested his own money in the financing of other Bitcoin Treasury strategy companies. “This agreement strengthens the idea that Back’s priorities reside in the expansion of Bitcoin institutional use cases, and not simply by making gains on its assets,” he concluded.
