Canadian investment firm Cypherpunk Holdings recently increased its stake in the leading crypto by market cap to become the asset’s ninth largest holder
Cypherpunk Holdings invests in blockchain technologies and cryptocurrencies, with an emphasis on privacy-oriented technologies. Previously, the company invested in many other privacy-focused companies such as Samourai Wallet and the open source Wasabi Wallet without a depot.
The company is also involved in the Sweden-based green cloud infrastructure platform Hydro66 and the blockchain and smart transaction platform Chia Network. Overall, it has a market capitalization of $ 5.86 million.
Cypherpunk is run by Antanas Guoga, a well known investor and professional poker player. Guoga is from Lithuania, where he is a popular figure and was a member of the European Parliament. He is now an elected member of the Seimas branch.
Yesterday, the investment company announced it had acquired 72,979 BTC in the past five months. To fund the Bitcoin acquisition, Cypherpunk has reportedly liquidated other assets, including Ethereum and Monero. It also received funds other than partial proceeds from a private placement of $ 505,000 [$388,000] that closed three months ago.
Cypherpunk Holdings is now the ninth largest public BTC holder with a total of 276,479 BTC in its reserves. Based on current prices, it has assets of approximately $ 4.6 million. The Canadian holding company is listed on the Canadian Stock Exchange as CSE: HODL and is available for traders in North America and Europe
More and more public companies are joining the crypto space. There are currently over 14 publicly traded companies involved in Bitcoin. These companies have a combined stash of 66,896.59 BTC, which equates to over $ 1 billion.
The majority of these companies view cryptocurrencies, particularly Bitcoin, as an ideal store of value. MicroStrategy is one of the leading companies and holds a total of 38,250 BTC in its reserves. Galaxy Digital and Square take second and third place with 16,402 BTC and 4,709 BTC, respectively.