Bitcoin Standard Treasury Co. (BSTR), a bitcoin (BTC) treasury vehicle led by cryptography pioneer Adam Back, sees itself as a company with a mission to accelerate real-world bitcoin adoption.

But it might be setting out on another milestone: becoming one of the biggest corporate bitcoin holders.

The company, which is preparing to go public on Nasdaq by merging with Cantor Equity Partners (CEPO), already has 30,021 BTC on its balance sheet, with plans to grow its stack beyond 50,000 coins.

This will set it on the path of potentially overtaking MARA Holdings (MARA) as the second-largest corporate holder of BTC behind Strategy. MARA has more than 50,600 BTC, according to bitcointreasuries.net. Strategy has just under 629,000.

Currently, MSTR, MARA, and BSTR collectively hold roughly 710,

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