Posted 5 months ago | by @devadmin
Canada-based investment firm Cypherpunk Holdings not to be confused with the Cypherpunks Mailing list which created Bitcoin has dumped all of its holdings of Ethereum and Monero and put the funds into Bitcoin.
In an announcement, the company said that its Bitcoin holdings have increased to 276.479 BTC from its previous balance of 72.979 BTC seen at the end of the second quarter, or a 279% increase according to Cypherpunk Holdings, Yahoo News reported.
The company purchased its additional Bitcoin through the “full liquidation” of its positions in Monero and Ethereum. A percent of proceeds generated from a private placement of CA$505,000 (nearly US$400,000) closed on Aug. 27th were also used to purchase Bitcoin according to CoinDesk.
The company led by legendary poker player Tony G or Antanas Guoga is now the ninth-largest to own Bitcoin by a public company.
Cypherpunk Holdings has become the latest public company to increase its BTC holdings. The Toronto-based company is famously known in the cryptocurrency community as the owner of Wasabi wallet. The privacy-focused non-custodial wallet comes with a built-in CoinJoin and integrates the Tor browser.
Cypherpunk has also invested in a similar wallet called Samourai wallet. Samourai prioritizes robust encryption and privacy innovations within its wallet.
Other notable publicly-traded businesses that have invested in Bitcoin include — MicroStrategy and Square as Bitboy Crypto reported.
Cypherpunk Holdings shares its name with the mysterious suspected origin creators of Bitcoin, the Cypherpunks Mailing List, which may or may not be a nod to the group for creating the revolutionary financial technology.
Cypherpunk Holdings is also curiously listed on the Canadian Securities Exchange under the ticker “HODL,” an acronym first originating on the Bitcoin Talk forum meaning, Hold On For Deal Life.
Bitcoin is currently trading at [FIAT: $17,626.18] UP +2.6% in the last 24 hours according to Coingecko at the time of this report.