- BSTR Inc. emerged as the world’s fourth-largest holder of Bitcoin after a merger announcement on July 17.
- Social media is questioning the origin of BSTR’s 30,021 BTC, with 25,000 BTC attributed to “founding shareholders.”
- Speculation centers on whether Tether or Bitfinex contributed to BSTR’s bitcoin reserves, though no direct proof has been shown.
- The involved parties—Blockstream, Cantor Fitzgerald, and BSTR—have not confirmed any link to Tether or Bitfinex in official filings.
- Stock price volatility and recent litigation over bitcoin holdings are contributing to investor concerns.
On July 17, Blockstream’s Adam Back and Cantor Fitzgerald’s Brandon Lutnick revealed a merger involving BSTR Inc. and Cantor Equity Partners I Inc. The deal will place about 30,021 bitcoin (BTC) on BSTR’s balance sheet, making it the world’s fourth-largest public bitcoin-holding company. BSTR is set to change its Nasdaq ticker symbol from CEPO to BSTR in the near future.
The announcement led to a brief surge in CEPO’s share price to $16.50, before falling back below $11.80. As of publication, shares slid another 3% in intraday trading. Three main factors drove enthusiasm: Adam Back’s role as a pioneer in cryptocurrency, Cantor Fitzgerald’s financial reputation and connections, and the size of assets—30,021 BTC—tied to the deal.
Questions have emerged about the source of this bitcoin. Social media is focused on the 25,000 BTC attributed to “founding shareholders,” with speculation that Tether could be involved due to Cantor Fitzgerald’s previous high-profile deals with Tether and the shared structure between CEPO and CEP. Swan Bitcoin’s Cory Klippsten asked whether Tether was behind the Cayman Islands-based bitcoin, noting that Blockstream may not own such a large quantity of BTC.
The original press release referred to 25,000 BTC coming from “founding shareholders, advised by Blockstream Capital Partners,” but offered no detailed disclosure. No hard evidence was provided to connect the coins directly to Tether or Bitfinex. Instead, observers referenced recent court filings mentioning a lawsuit between Celsius and Tether involving a potential clawback of up to 57,429 BTC, raising concerns about potential future legal encumbrances for BSTR’s bitcoin.
Some industry voices suggested that Blockstream and its early investors, having acquired bitcoin in previous years at much lower prices, could hold enough reserves to account for the 25,000 BTC segment. One commentator noted Blockstream’s history of capital raises and access to low-priced bitcoin since 2014.
Company filings with the Securities and Exchange Commission mention neither Tether nor Bitfinex. As of now, Adam Back has not addressed the speculation, and no official public documents clarify the actual source of the 25,000 BTC. The debate continues as BSTR prepares to finalize its listing changes, and investors monitor the outcome of ongoing litigation over large bitcoin stashes.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- DOJ Seeks Forfeiture of $2.3M Bitcoin From Chaos Ransomware Group
- Spiko Raises $22M, Nears Top 5 in Tokenized MMF With $400M AUM
- Bitcoin Surges After $9B Shock, Analysts Predict Cycle Is Over
- ECB Adviser: Digital Euro Alone Won’t Rival US Dollar Stablecoins
- Morgan Stanley: India to Lead BRICS with Fastest GDP Growth by 2026
