Bitcoin Treasury Company BSTR Completes $65 Million in Funding, Plans to Hold Over 30,000 BTC After Business Merger

PANews reported on August 8th that the Bitcoin Standard Treasury Company (BSTR) has secured an additional $65 million in funding, equivalent to approximately 555 bitcoins (at the current price of $116,750). The funds will be used upon the completion of the merger of BSTR and CEPO. The merged company will reportedly trade under the ticker symbol "BSTR" and plan to hold 30,021 bitcoins.

Previously , it announced that BSTR had entered into a definitive business combination agreement with Cantor Equity Partners I, Inc. (Nasdaq: CEPO), a special purpose acquisition company sponsored by affiliates of Cantor Fitzgerald. The combined company will also receive up to $1.5 billion in post-IPO private equity PIPE financing, the largest PIPE financing ever in a Bitcoin Reserve-related SPAC merger transaction, and the SPAC will contribute approximately $200 million in additional funds, subject to redemptions.