Adam Back | Crypto

Cantor Fitzgerald’s blank‑cheque affiliate is in late‑stage talks to acquire more than $3 billion in Bitcoin (BTC) from Adam Back’s Blockstream Capital through a transaction that could exceed $4 billion, the Financial Times reported on July 15.  Cantor Equity Partners 1, a special‑purpose acquisition company that raised $200 million in a January IPO, would issue new shares to Back in exchange for as much as 30,000 BTC. The […] The post Cantor Fitzgerald SPAC nears $4B deal with Blockstream’s Adam Back to amass 30,000 Bitcoin appeared first on CryptoSlate.

Crypto speculators may offset some of their altcoin losses by investing in Bitcoin or BTC treasury firms, according to Hashcash inventor Adam Back. Bitcoin treasury adoption by public companies has become the new altcoin season for cryptocurrency speculators, Adam Back said on Monday. Bitcoin (BTC) treasury season “is the new ALT SZN for speculators,” said Back, co-founder and CEO of Blockstream and the inventor of Hashcash. “Time to dump ALTs into BTC or BTC treasuries,” he added. Bitcoin treasury firms are buying BTC “on repeat to increase Bitcoin per share,” tapping into different funding methods such as convertible note offerings to accumulate more of the world’s first cryptocurrency, making them attractive for investors, Back explained. Read more

Adam Back says that since Strategy typically takes 16 to 18 months to double its Bitcoin per share, the premium on its stock is not "unreasonable.” Blockstream CEO Adam Back says Michael Saylor’s Strategy (MSTR) stock premium is within reason, considering how quickly the firm doubles its Bitcoin per share, which reduces risk for investors. “It turns out in the case of MicroStrategy it’s been 16 months, 18 months,” he told Bitcoin podcaster Stephan Livera at BTC Prague on Saturday, referring to the typical time it takes for Strategy to double its Bitcoin (BTC) per share, noting that the stock has traded at a 2x multiple “on and off.” “So you can see that that’s not an unreasonable premium,” he said. Back explained that if Strategy’s Bitcoin per share keeps growing at the same rate, after about a year and a half, investors “would be at an equivalent” of the market net asset value (mNAV) — meaning the stock price would align with the value of its underlying Bitcoin holdings. Read more

Due to Bitcoin’s volatility, the odds are against those who try to time the market, the Blockstream CEO learned in the early years of Bitcoin. Selling Bitcoin is like “playing in a really bad house-rate casino,” according to Adam Back, CEO of Blockstream and one of Bitcoin’s earliest adopters. In a recent interview with Bitcoin financial services firm Unchained, Back said the odds are stacked against traders trying to time the market. Back came to this conclusion in the early days of Bitcoin, he said, when the price “was going up basically exponentially but it [was] extremely volatile.” “So [...] if you see something that’s going up exponentially but with volatility, if you sell it to time the market a bit falling, the odds are against you,” Back said, adding: Read more

Bitcoin cypherpunk Adam Back has backed a $2.2 million funding round for H100 AB Group to help the Swedish health tech firm buy Bitcoin. Blockstream CEO Adam Back has led a 21 million Swedish krona ($2.2 million) funding round in the Swedish health tech company H100 Group AB, which last week said it would start buying Bitcoin. H100 said on May 25 that the funds, secured through 0% interest convertible loans, will be used to purchase Bitcoin (BTC) in line with its Bitcoin-buying pivot announced on May 22. Back, a longtime Bitcoin cypherpunk, contributed around $1.4 million, while the remaining $800,000 came from investment firms Morten Klein, Alundo Invest AS, Race Venture Scandinavia AB and Crafoord Capital Partners. Read more

Bitcoin OG Adam Back is used to being asked if he’s Satoshi… and has to laugh at some of the crazy conspiracy theories about Blockstream. For a man who many believe could actually be Satoshi, Blockstream CEO Adam Back is surprisingly understanding on the question of normies buying so-called paper Bitcoin via the ETFs. You have to have some empathy for the people who want to buy Bitcoin, but they dont know how to do it, and its too complicated, Back tells Magazine.  There are limits to his tolerance though. You also dont really want 90% of it in ETFs or something because that might start to become a problem, says the London-born, Malta-based cryptographer. Read more