BSTR Holdings, a bitcoin treasury company, said it has agreed with Cantor Equity Partners to terminate the business combination agreement the two sides signed on July 16, 2025. The company said the decision was driven by current market conditions, with valuations for bitcoin and publicly listed bitcoin treasury companies remaining under pressure. According to BSTR, that has created a mismatch in capital markets and limited the amplifying effect that financing tools such as convertible bonds and perpetual preferred stock can have within its bitcoin treasury strategy. Even so, BSTR said it still plans to move ahead with its institutional-grade bitcoin asset management business once market conditions stabilize. The update was cited by Businesswire.
BSTR Holdings, a bitcoin treasury company, said it has reached an agreement with Cantor Equity Partners to terminate the business combination agreement the two companies signed on July 16, 2025.
BSTR said the move reflects current market conditions. The company pointed to continued valuation pressure on bitcoin and publicly listed bitcoin treasury companies, which it said has led to a mismatch in capital markets and reduced the ability of financing instruments such as convertible bonds and perpetual preferred stock to amplify its bitcoin treasury strategy.
BSTR added that it still intends to continue its institutional-grade bitcoin asset management business once market conditions become more stable.
The update was cited by Businesswire.
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