Cypherpunk Technologies announced the acquisition of an additional 56 418 ZEC, spending approximately $29 M on the deal. The average price for this round stood at $514 per coin. Following the transaction, the firm's total assets in this cryptocurrency reached 290 062 ZEC.
The current holding represents roughly 1.76% of the total Zcash market supply. The company built its entire portfolio at a cumulative average price of $334 per coin.
Chief Investment Officer Will McEvoy stated that the company remains committed to its goal of acquiring 5% of all coins in the network. According to McEvoy, these moves position the entity for a time when the market fully reprices the value of privacy.
Beyond hoarding coins, Cypherpunk Technologies plans to scale its operations within the privacy-preserving technology sector. Management views the growing Zcash position as a bridge to upcoming global shifts in how anonymity tools are valued. The company continues to execute its strategy amid rising market demand for secure solutions.
Read also:
- What are privacy coins and how do they differ from regular cryptocurrencies?
- Programmable Privacy: How ZK Tech, AI & User Controls Are Setting the New Standard
- Zero-Knowledge Social Networks: Privacy, Identity & Communication on Web3
- Zcash Surpasses Monero and Enters Top 20 Cryptocurrencies by Market Cap
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