最新报道：According to Bitcoin.com, Bitcoin Standard Treasury Co. (BSTR), a Bitcoin company, may be on the verge of reaching another milestone: becoming one of the largest corporate Bitcoin holders. The company, which is preparing to go public on the Nasdaq through a merger with Cantor Equity Partners (CEPO), already holds 30,021 BTC on its balance sheet and plans to increase its holdings to over 50,000. This would potentially allow it to surpass MARA Holdings (MARA) and become the second-largest corporate Bitcoin holder after Strategy.com. According to bitcointreasuries.net, MARA holds over 50,600 BTC, while Strategy holds just under 629,000. Currently, MSTR, MARA, and BSTR collectively hold approximately 710,000 Bitcoin, representing approximately 3.38% of Bitcoin's fixed supply of 21 million. Unlike some corporate vaults that passively hold Bitcoin, BSTR plans to use techniques including selling put options to accumulate BTC at lower prices, using a Bitcoin-backed revolving credit line, and collateralizing with a regulated tri-party custodian. "We're not interested in chasing DeFi yields or taking on counterparty risk we can't manage. This is about liquidity, security, and scale," Back told CoinDesk exclusively. "Bitcoin was created for sound money, and BSTR was created to bring that same integrity to modern capital markets." The SPAC transaction with Cantor is the first to combine traditional Wall Street financing with Bitcoin-denominated private equity (PIPE). In addition to the 25,000 BTC contributed by the company's founders, 5,021 BTC will be raised from the Bitcoin community. The company is also raising up to $1.5 billion in fiat funding, the largest PIPE ever announced in conjunction with a Bitcoin vault SPAC. CEPO may add up to $200 million from its trust, subject to redemption provisions. “By accessing both fiat and Bitcoin funding on day one, we are providing unprecedented firepower for a single mission: to maximize ownership per share of Bitcoin while accelerating real-world Bitcoin adoption,” said Back. Physical PIPEs allow investors to take delivery of BTC upon settlement, with the potential to capture upside before settlement. Back said the approach is designed to appeal to both crypto-native participants and traditional managers seeking exposure without having to wait for after-hours market buy-in. The firm’s CIO, Sean Bill, who previously helped a US pension fund make its first institutional allocation to BTC, said the strategy resonated with traditional investors. “We are building the Berkshire Hathaway (BRK) of Bitcoin, an actively managed treasury that will pursue income and alpha strategies, as well as strategic acquisitions within the Bitcoin ecosystem.” "We're flipping the script on Wall Street as we seek to integrate Bitcoin into finance and capital markets. Unlike other treasury companies, we're not coming to Wall Street seeking fiat to buy Bitcoin. We're coming with a commitment of 25,000 Bitcoins, and more importantly, we're issuing the first-ever Bitcoin-in-kind equity PIPE in the U.S., raising an additional 5,021 Bitcoins from OG Bitcoiners. We're bringing Bitcoin to Wall Street. We believe the future of finance runs on Bitcoin," Bill told CoinDesk exclusively. The leadership team sees BSTR as a bridge between the Bitcoin ecosystem and institutional capital markets. "We're bringing traders, Bitcoiners, to Wall Street," Back said, noting that the liquidity of the U.S. market has the potential to amplify the success of Bitcoin-denominated convertible bonds, which have already gained traction in Europe. The transaction is expected to close in the fourth quarter, and the company will trade under the retained ticker symbol BSTO. If fully subscribed, the offering could set a new record for the size of a corporate Bitcoin treasury and provide a template for other companies looking to merge sound money with modern market instruments.