Bitcoin Standard Treasury Company (BSTR), led by Adam Back, is advancing its initial public offering (IPO) plans, aiming for shareholder approval by April. The IPO will proceed through a merger with Cantor Equity Partners I, led by Brandon Lutnick. BSTR intends to hold 30,000 bitcoins on its balance sheet at the IPO, with 25,000 bitcoins from Back and founding shareholders, and 5,000 from early investors. Adam Back noted that the current lower Bitcoin prices could benefit BSTR's IPO by allowing the company to acquire more bitcoins at a discount, potentially strengthening its balance sheet if market conditions improve. He attributed Bitcoin's recent price decline to macroeconomic factors, such as geopolitical tensions and tariff uncertainties, rather than regulatory issues, highlighting a favorable U.S. regulatory environment.