Bitcoin accumulator BSTR to vote on SPAC merger for Nasdaq listing

Bitcoin Standard Treasury (BSTR), a strategic Bitcoin accumulation firm, will hold a vote on June 26 to approve a merger with special purpose acquisition company (SPAC) Cantor Equity Partners I (CEPO) for a Nasdaq listing, Crypto Briefing reported. If approved, the company will trade under the ticker BSTR. Upon listing, BSTR will hold 30,021 BTC, ranking it fifth among publicly traded companies with similar strategies. The firm also plans to raise up to $1.5 billion through a private investment in public equity (PIPE) deal, with approximately $600 million of this to be secured through an in-kind contribution of 5,021 BTC rather than cash. The company aims to eventually increase its holdings to over 50,000 BTC. The company is led by CEO Adam Back, co-founder of Blockstream, and President Katherine Dowling, a former Bitwise executive.