The Canadian company sold its XMR and ETH holdings to finance the acquisition.
Cypherpunk Holdings (CSE:HODL), a Canadian investment company focused on privacy, has increased its holdings of Bitcoin (BTC).
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The company revealed on Thursday that it has added 72,979 BTC to its reserves since June 30, 2020.
Cypherpunk financed the acquisition through sales of its Monero (XMR) and Ethereum (ETH) holdings, as well as through partial proceeds from a private allocation of CAD 505,000, or USD 388,000, received on August 27.
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With this purchase, Cypherpunk now has 276,479 BTC in its reserves, making it the ninth largest public owner of Bitcoin. At the current price, Cypherpunk’s stake in BTC is worth just under $4.8 million.
At the time of this writing, at least 14 publicly traded companies had Bitcoin on their books. Combined, their holdings amount to 66,896.59 BTC, or USD 1.2 billion. That’s about 3.2 percent of Bitcoin’s current supply.
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Cypherpunk Holdings, which is listed on the Canadian Stock Exchange, has several privacy-focused companies on its books, including Wasabi Wallet and Samourai Wallet. The company also invests in Hydro66, a green platform offering cloud infrastructure, and the smart contract protocol, Chia Network.
The company is led by Lithuanian entrepreneur, politician and former professional poker player Antanas Guoga, or Tony G. He is currently an elected member of the Seimas, the legislative branch of the Lithuanian government. Previously, he was a member of the European Parliament for Lithuania.
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It seems that more and more public companies are turning their treasuries into Bitcoin in search of a more adequate reserve value. MicroStrategy, which has converted most of its treasury into Bitcoin, is the most prominent example of this trend. The company currently holds 38,250 BTC after nearly doubling its holdings over the summer.
Galaxy Digital is the second largest public Bitcoin holder, with 16,402 BTC, followed by Square’s 4,709 BTC.