Cypherpunk Holdings, a Canada based-investment firm, has made an announcement on increasing its Bitcoin holdings to 276.479 BTC. Its original balance had 72.979 BTC since June 30, 2020. This represents an increase of almost 279% as compared to the previous holding. The firm had announced that the resultant Bitcoin holdings were possible after the full liquidation of Monero (XMR) and Ethereum (ETH) investments. The rest of the holdings were brought from a private placement of US$ 400,000 on Aug. 27, 2020.
Cypherpunk Holdings Updates On Bitcoin Holdings
Data from Kevin Rooke shows that Cypherpunk’s recent holdings on the cryptocurrency make the firm the ninth-largest public holder of Bitcoin. The current valuation of the firm’s stake in Bitcoin makes the company’s holdings on the cryptocurrency worth just under $4.8 million.
Cypherpunk Holdings provides various privacy-focused services including Wasabi Wallet and Samourai Wallet. The firm had previously invested in smart contract platform Chia Network including green cloud infrastructure platform, Hydro66. The investment firm trades on Canadian Securities Exchange under the ticker HODL.
Cypherpunk Holdings is owned by Antanas Guoga, or Tony G, a Lithuanian businessman, politician, and a former professional poker player. He had previously served as a member of the European Parliament for Lithuania. He now serves as an elected member of the legislative branch of the Lithuanian government.
Publicly Traded Companies Increase Interest On Bitcoin
Cypherpunk Holdings now comes along the list of other public companies who have staked their reserve assets in Bitcoin including MicroStrategy, Square, and Galaxy Digital Holdings. This confirms that Bitcoin is not only considered as a store of value and a method of payment but as an inflation hedge and a reserve asset.
At least 14 publicly traded companies have held their reserve assets in Bitcoin, till now. The total holdings of these companies amount to 66,896.59 BTC, or $1.2 billion, equivalent to 3.2% of Bitcoin’s circulating supply.
For instance, MicroStrategy is one of the prominent examples of converting its capital into Bitcoin. The firm has 38,250 BTC now, followed by almost doubling its profit recently. Meanwhile, Galaxy Digital is the second largest public holder of Bitcoin at 16,402 BTC, followed by Square’s investment of 4,709 BTC.