Bitcoin Standard Treasury (BSTR) is preparing to list on Nasdaq and expand Bitcoin reserves to over 50,000 BTC.
With the ambition to surpass MARA Holdings and become the second-largest Bitcoin holding organization, BSTR will contribute to increasing the percentage of BTC held by institutions, currently around 3.38% of the total 21 million BTC supply.
- BSTR plans to list on Nasdaq through a merger with Cantor Equity Partners.
- Currently holding 30,021 BTC and aiming to increase reserves to over 50,000 BTC.
- BSTR will become the second-largest BTC holding organization, surpassing MARA Holdings.
Can you explain what Bitcoin Standard Treasury is and their goals for listing on Nasdaq?
Bitcoin Standard Treasury (BSTR), led by Adam Back, a pioneer in cryptology, is preparing to enter the Nasdaq through a merger with Cantor Equity Partners (CEPO), expanding its scale and enhancing its reputation in the cryptocurrency market.
BSTR's primary goal is to consolidate its position in Bitcoin investment funds while increasing cryptocurrency reserves to lead in institutional holding rates. The listing will help the company access capital and increase investor confidence.
What is BSTR's current Bitcoin reserve situation and expansion plan?
BSTR currently holds 30,021 Bitcoin on its balance sheet. The company aims to expand its Bitcoin reserves to over 50,000 BTC, targeting to become the second-largest Bitcoin-holding organization in the world.
This reserve expansion plan reflects a positive sentiment and long-term investment in cryptocurrency, demonstrated by large financial institutions actively accumulating digital assets to withstand market volatility. This is also an action to surpass MARA Holdings, a current large Bitcoin investor.
How could BSTR impact the Bitcoin market when achieving its 50,000 BTC reserve target?
If successful, BSTR will surpass MARA Holdings to become the second-largest Bitcoin-holding organization, behind Strategy. Currently, the total Bitcoin held by MSTR, MARA, and BSTR is approximately 710,000 BTC, corresponding to 3.38% of the fixed 21 million BTC supply.
Increasing Bitcoin holdings by large institutions could create a more stable trend in the market and increase cryptocurrency's credibility among long-term investors and traditional financial institutions.
"BSTR's Nasdaq listing and Bitcoin reserve expansion clearly indicate the maturity of the cryptocurrency market, with larger institutions participating more deeply."
Adam Back, Founder of Bitcoin Standard Treasury, 16/08/2023
How many Bitcoins are large organizations currently holding in the market?
The three main organizations, MSTR, MARA, and BSTR, are collectively owning approximately 710,000 Bitcoin, corresponding to 3.38% of the total 21 million BTC supply. The influence of these organizations is increasingly significant in the cryptocurrency market.
The increase in BTC ownership by large funds not only demonstrates long-term confidence in cryptocurrency but also helps increase liquidation and price stability in the trading market.
Frequently Asked Questions
What is Bitcoin Standard Treasury?
BSTR is a cryptocurrency investment fund led by Adam Back, currently owning and planning to increase Bitcoin reserves.
Why does BSTR want to list on Nasdaq?
Listing helps BSTR increase investment funds, enhance reputation, and access institutional investors.
How many Bitcoins does BSTR currently hold?
Currently 30,021 BTC and planning to expand to over 50,000 BTC.
What is MARA Holdings' position in the Bitcoin market?
MARA is a prominent organization, ranking behind BSTR and MSTR in total Bitcoin holdings.
What percentage of total supply do large organizations hold?
Approximately 3.38% of Bitcoin in the 21 million supply is owned by large organizations like BSTR, MARA, MSTR.
