On July 17, BSTR Holdings Inc. disclosed a definitive merger agreement with Cantor Equity Partners I, Inc. (Nasdaq: CEPO), a SPAC sponsored by Cantor Fitzgerald, a prominent financial and real estate services firm. Post-merger, the combined entity will trade under the ticker “BSTR”. The company will bolster its balance sheet with a substantial holding of 30,021 bitcoins, positioning it as the fourth-largest publicly listed bitcoin treasury worldwide. Furthermore, BSTR aims to secure up to $1.5 billion in PIPE financing, marking the largest PIPE transaction linked to a bitcoin-focused SPAC deal to date. The transaction also includes a potential contribution of approximately $200 million from the SPAC, contingent on shareholder redemptions, underscoring significant institutional confidence in the merged entity’s strategic direction.