Cypherpunk Technologies Inc. purchases another $18 million worth of ZEC, bringing its total holdings to 1.43% of the network supply.
ChainCatcher reported that Cypherpunk Technologies Inc. (Nasdaq: CYPH) announced that the company has once again spent $18 million to purchase 29,869.29 ZEC (Zcash), with an average purchase price of $602.63.
Including the previously purchased ZEC worth $50 million, Cypherpunk's total ZEC holdings have now reached 233,644.56, with an average holding cost of $291.04. This acquisition brings the company's total ownership ratio in the Zcash network to 1.43%. Cypherpunk focuses on privacy and self-sovereignty, considering Zcash as "an asset form of digital privacy" and a hedge against Bitcoin's transparency and its financial infrastructure, especially in an AI-rich future.
Previously, the company had just appointed Will McEvoy, head of Winklevoss Capital, as Chief Investment Officer (CIO) and board member. Winklevoss Capital had previously led a $58.88 million private placement for the company. The company's goal is to eventually hold at least 5% of the total ZEC supply, continuously advancing its Zcash-centered digital asset treasury strategy.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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