Odaily News Cypherpunk Technologies Inc. (Nasdaq: CYPH) announced that the company has again invested $18 million to acquire 29,869.29 ZEC (Zcash), with an average purchase price of $602.63. In addition to the previously purchased ZEC for $50 million, Cypherpunk's total ZEC holdings have reached 233,644.56, with an average cost basis of $291.04. This acquisition brings the company’s total ownership percentage in the Zcash network to 1.43%. Cypherpunk focuses on privacy and self-sovereignty, considering Zcash as a “digital asset form of privacy,” a hedging tool against the transparency of Bitcoin and its financial infrastructure, especially in an AI-rich future. Previously, the company appointed Will McEvoy, head of Winklevoss Capital, as Chief Investment Officer (CIO) and board member, with Winklevoss Capital having led a $58.88 million private sale for the company. The company's goal is to ultimately hold at least 5% of the total ZEC supply, continuously advancing its Zcash-centric digital asset treasury strategy.
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