Bitcoin

Cypherpunk Holdings became the ninth largest public holder of Bitcoin

Cypherpunk Holdings (CSE: HODL), a Canadian investment company focused on data protection, has increased its holdings of Bitcoin (BTC).

The company announced on Thursday that has added 72,979 BTC to its reserves since June 30, 2020.

Cypherpunk financed the acquisition the sale of its holdings in Monero (XMR) and Ethereum (ETH) and partial proceeds from a private award of CAD 505,000 or $ 388,000, received on August 27th.

Cypherpunk Holdings became the ninth largest public holder of Bitcoin
Cypherpunk Holdings became the ninth largest public holder of Bitcoin

With this purchase, Cypherpunk now has 276,479 BTC in its reserves, making it the ninth largest public bitcoin holder. At current price, Cypherpunk’s stake in BTC is worth just under $ 4.8 million.

At the time of this writing At least 14 publicly traded companies had Bitcoin on their books. Combined, The holdings amount to 66,896.59 BTC or $ 1.2 billion. This equates to around 3.2% of the circulating bitcoin supply.

Cypherpunk Holdings, which is listed on the Canadian Stock Exchange, has several privacy-conscious companies, including Wasabi Wallet and Samourai Wallet. The company also invests in Hydro66, a green platform that offers cloud infrastructure and in the smart contract protocol Chia network.

The company is run by the Lithuanian businessman, politician and former professional poker player. Antanas Guoga or Tony G. He is currently an elected member of the Seimas, the legislature of the Lithuanian government. He was previously a Member of the European Parliament for Lithuania.

It seems that more and more public corporations are turning their treasuries into Bitcoin in search of a more suitable store of value. MicroStrategy, The most prominent example of this trend is the company that converted most of its treasury into Bitcoin. The company currently owns 38,250 BTC after almost doubling their stocks in the summer.

Galaxy Digital is the second largest public bitcoin holder at 16,402 BTC, followed by Square at 4,709 BTC.

Cypherpunk did not immediately respond to our request for comment.

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