Bitcoin Standard Treasury launches with 30,000 BTC to challenge Michael Saylor's dominance in the corporate Bitcoin race

Bitcoin Standard Treasury Company (BSTR) has entered public markets via a Cantor Equity Partners merger, launching with 30,021 Bitcoin and $1.4 billion in fiat financing under cryptographer Adam Back's leadership. The company arrives as Strategy's STRC preferred stock hits record lows near $85, raising fresh questions about whether Saylor's leverage-heavy model can sustain competition from a better-capitalized rival.