What to know:

• Founders are contributing 25,000 BTC, plus 5,021 BTC from early investors, with up to $1.5 billion in new capital.

• The company plans for active treasury management and rapid expansion beyond 50,000 BTC to challenge MARA Holdings' hoard.

Bitcoin Standard Treasury Co. (BSTR), a bitcoin 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.