Bitcoin Standard Treasury Company (BSTR), the Bitcoin treasury firm founded and led by cryptography pioneer and Blockstream CEO Adam Back, announced on February 24, the appointment of Robert “Bob” Stefanowski as its new Chief Financial Officer (CFO).
The move strengthens BSTR's executive team as it advances toward a public listing through a SPAC merger with Cantor Equity Partners I, Inc announced in 2025. Shareholder approval is targeted as early as April 2026, with the combined entity expected to trade under the ticker “BSTR” on Nasdaq.
Stefanowski, a global finance veteran with over 25 years in private credit, structured finance, private equity, infrastructure investing, and capital markets, will oversee capital markets strategy, financial reporting, accounting, and treasury functions. His background includes CEO of NEOM USA (structuring an $8.4 billion green hydrogen project), CFO of UBS Investment Bank (managing $80 billion in risk-weighted assets), and senior roles at GE Capital and 3i Group plc. He holds an MBA from Cornell, a B.S. in Accounting from Fairfield University, and former CPA, CFA, and CFE designations.
Katherine Dowling, BSTR President, said: “Bob brings unparalleled experience... His leadership will be instrumental as we position BSTR for long-term growth and public market success.”
Stefanowski commented: “As institutional adoption accelerates, there is a clear need for a disciplined, transparent public company... BSTR is uniquely positioned to bridge Bitcoin and capital markets at scale.”
BSTR plans to launch with approximately 30,000 BTC on its balance sheet—25,000 contributed by founding shareholders, plus 5,021 from early investors in-kind—focusing on active management for yield and alpha. Amid Bitcoin's recent volatility—currently trading around $65,000 after a dip—Back attributes the decline to macroeconomic factors, not regulation, viewing lower prices as an opportunity for further accumulation post-listing, potentially up to an additional 21,000 BTC depending on conditions.
The merger remains subject to regulatory approvals, shareholder votes, and conditions, with BSTR aiming to provide institutional investors efficient Bitcoin exposure through disciplined treasury strategies.