Winklevoss-Backed Cypherpunk Acquires $28 Million of Zcash, Holds 1.7% of Supply
Cypherpunk Technologies (CYPH), a Nasdaq-listed digital asset treasury firm backed by the Winklevoss twins, has purchased $28 million worth of Zcash (ZEC), now holding approximately 290,062 ZEC, which represents around 1.76% of the circulating supply.
The recent acquisition included 56,418 ZEC tokens bought at an average price of $514.02 each. The total ZEC holdings by Cypherpunk are valued at about $151.9 million, with a cost basis of $334.41 per token, resulting in unrealized gains despite a market decline.
Cypherpunk’s chief investment officer, Will McEvoy, stated that the firm aims to accumulate 5% of the Zcash network. This purchase follows a previous $18 million investment in ZEC disclosed in November.
Zec's price has increased over 1,200% since September amid renewed investor interest in privacy coins.
