Cypherpunk Holdings becomes 9th largest public holder of Bitcoin
Canadian holding company dumped XMR and ETH to fund its acquisition.
Photo: Cointelegraph
Cypherpunk Holdings (CSE:HODL), a privacy-focused Canadian investment company, has upped its stake in Bitcoin (BTC).
The company disclosed Thursday that it has added 72.979 BTC to its reserves since Jun 30, 2020.
Cypherpunk funded the acquisition by liquidating its holdings of Monero (XMR) and Ethereum (ETH), as well as through partial proceeds from a private placement.
With the purchase, Cypherpunk now has 276.479 BTC in its reserves, making it the ninth-largest public Bitcoin holder. At current values, Cypherpunk’s stake in BTC is worth just under $4.8 million.
At the time of writing, at least 14 publicly-traded companies held Bitcoin on their books. Combined, their holdings amount to 66,896.59 BTC, or $1.2 billion. That’s equivalent to roughly 3.2% of Bitcoin’s circulating supply.
Cypherpunk Holdings, which trades on the Canadian Securities Exchange, has several privacy-focused businesses on its books, including Wasabi Wallet and Samourai Wallet. The company also invests in Hydro66, a green cloud infrastructure platform, and smart contract protocol Chia Network.
The company is run by Antanas Guoga, or Tony G, a Lithuanian businessman, politician and former professional poker player. He now serves as an elected member of the Seimas, the legislative branch of the Lithuanian government. Previously, he served as Member of European Parliament for Lithuania.
It appears that more public companies are converting their cash holdings into Bitcoin as a more suitable store of value. MicroStrategy, which has converted most of its cash holdings into Bitcoin, is the most prominent example of this trend. The company now sits on 38,250 BTC after nearly doubling its holdings over the summer.
Galaxy Digital is the second-largest public Bitcoin holder at 16,402 BTC, followed by Square’s 4,709 BTC.
Reprinted from Cointelegraph, the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.