Winklevoss-Backed Cypherpunk Increases Zcash Holdings to $150 Million
Cypherpunk Technologies, a digital-asset treasury firm backed by Cameron and Tyler Winklevoss, has purchased an additional $18 million worth of Zcash (ZEC). The recent acquisition added 29,869 ZEC tokens at an average price of $602.63 each, following an initial $50 million investment. This increase brings Cypherpunk's total holdings to 233,644 ZEC tokens, valued at approximately $150 million.
Cypherpunk now controls about 1.43% of the circulating supply of Zcash. The average cost basis for these holdings is $291 per token, indicating around 120% paper gains considering the current price of about $640 per ZEC. Notably, Zcash's price has surged over 10% in the last 24 hours and risen 140% over the past month, despite a broader slump in the cryptocurrency market.
Zcash is known as a privacy-focused cryptocurrency that utilizes zero-knowledge proofs to shield transaction details. Cypherpunk positions itself as a digital-asset treasury focused on censorship-resistant assets, aligning with a renewed interest in privacy coins.
