Overview
Blockstream is a Bitcoin infrastructure company co-founded and led by Adam Back. It builds layer-2 and sidechain infrastructure for Bitcoin, most notably the Liquid Network (a Bitcoin sidechain for financial institutions). It has raised $1 billion in funding and reached a valuation of $3.2 billion. Back is also separately taking a Bitcoin treasury company public through a Cantor Fitzgerald shell entity.
Key Facts
- Founded and CEO’d by Adam Back. NYT Names Adam Back as Satoshi Nakamoto — Bitcoin.com Coverage
- Raised $1 billion in funding; valued at $3.2 billion. NYT Names Adam Back as Satoshi Nakamoto — Bitcoin.com Coverage
- Builds Bitcoin infrastructure including the Liquid sidechain for institutional Bitcoin trading.
- Separate from Blockstream: Back is taking a Bitcoin treasury company public through a Cantor Fitzgerald shell entity. If Back held Satoshi’s 1.1M BTC (~$118B), this SEC disclosure process could legally require revelation of those holdings.
Connections
- Adam Back — co-founder, CEO
- Bitcoin as Digital Gold — the thesis Blockstream’s infrastructure supports
- Satoshi Nakamoto — alleged identity of Blockstream’s CEO; denied
Source Appearances
- NYT Names Adam Back as Satoshi Nakamoto — Bitcoin.com Coverage — primary context
- Cantor Fitzgerald SPAC in Talks for $4B Bitcoin Deal With Blockstreams Adam Back — Decrypt — Blockstream Capital as the vehicle contributing 30K BTC to BSTR; deal mechanics
Open Questions
- What is the timeline and structure of Back’s Bitcoin treasury company public offering via Cantor Fitzgerald?
- Has Blockstream’s Liquid sidechain achieved meaningful institutional adoption?