Cypherpunk Technologies buys about 56,000 additional Zcash… holdings exceed 290,000

Privacy technology company Cypherpunk Technologies is strengthening its digital asset financial strategy by making additional purchases of Zcash (ZEC).

According to PR Newswire on the 30th, Cypherpunk Technologies said it recently invested about 29 million dollars to additionally purchase 56,418.09 ZEC. The average purchase price was 514.02 dollars per ZEC.

With this transaction, the company's total Zcash holdings increased to 290,062.67 ZEC, which corresponds to about 1.76% of the total Zcash circulating supply. The cumulative average purchase price of the Zcash held by the company was calculated at 334.41 dollars per ZEC.

Cypherpunk Technologies has been gradually purchasing Zcash over recent months.

Will McEvoy, Chief Investment Officer (CIO), said, "We are executing an accumulation strategy with the goal of securing about 5% of the Zcash network," and added, "We plan to continue a Zcash-centric strategy in an environment where the social value of privacy is being reappraised." He explained that this additional purchase is part of a long-term digital asset financial strategy.

Meanwhile, the company intends to promote long-term corporate value enhancement through Zcash accumulation and ecosystem participation.