Cantor Equity Partners I has postponed its shareholder vote on a merger with Bitcoin Standard Treasury Company (BSTR) to July 2. The deal would list Adam Back's firm on Nasdaq with 30,021 Bitcoin. The delay, linked to previously disclosed private placements, comes as digital asset treasury companies face falling valuations, with many trading near or below their Bitcoin holdings. BSTR would become the fifth-largest public Bitcoin treasury, about 13,000 coins shy of second place. Back aims to reach the top three, with a target of buying up to $1.5 billion more Bitcoin. The outcome depends on the July 2 vote and redemptions by June 30.

Key facts

• Vote postponed to July 2 due to previously disclosed private placements.
• BSTR would list with 30,021 Bitcoin, aiming for top-three treasury status.
• Strategy shares fell below $100 for first time since March 2024.
• BSTR's full deployment could reach 53,500 BTC, passing Metaplanet and Twenty One Capital.
• Outcome hinges on redemptions before June 30 deadline.

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