In a deal that could mark one of the largest corporate purchases of Bitcoin (CRYPTO: BTC) to date, Cantor Equity Partners I Inc ( CEPO ) is in advanced talks to acquire more than $3 billion worth of Bitcoin from Blockstream Capital's Adam Back.

The move, which could total over $4 billion after additional fundraising, aligns with Cantor Fitzgerald's broader strategy to become a leading institutional buyer of digital assets.

The special purpose acquisition company, which raised $200 million in its January IPO, is led by 27-year-old Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick.

Quoting sources familiar with the discussions, The Financial Times reported that the transaction may be finalized as early as this week, pending final terms.

If completed, it would involve Back contributing up to 30,000 Bitcoin in exchange for equity in the SPAC, which would be rebranded as BSTR Holdings.

The deal echoes an earlier $3.6 billion crypto purchase led by Lutnick in partnership with Tether (CRYPTO: USDT) and SoftBank.

Together, the two ventures — BSTR Holdings and another Cantor-affiliated entity, Twenty One Capital — could collectively amass nearly $10 billion in Bitcoin by the end of 2025.

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The transaction comes amid a pro-crypto shift in Washington, with the GOP pushing forward a suite of blockchain-friendly legislation dubbed Crypto Week.

The timing positions Cantor and Blockstream at the forefront of institutional Bitcoin accumulation, a strategy popularized by Strategy's Michael Saylor.

Back is a longtime cryptography expert and the inventor of Hashcash, a proof-of-work system that inspired the Bitcoin protocol.

His company, Blockstream, founded in 2014 and backed by firms like Khosla Ventures and Baillie Gifford, has been an early force in Bitcoin infrastructure.

Back has also recently funded multiple crypto-treasury projects across Europe, further reinforcing his commitment to institutional Bitcoin adoption.

While Cantor Fitzgerald and Blockstream declined to comment, industry observers note that this would be one of the most significant asset-backed SPAC plays in crypto history, signaling a shift in how traditional finance structures interact with digital assets.

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