Cypherpunk Technologies Makes $29M Zcash Bet, Nears 290,062 ZEC in Push for 5% Ownership Goal
Cypherpunk Technologies just dropped a $29 million statement in the privacy coin arena.
The Accumulation Game
Another major buy pushes their Zcash holdings toward the 290,062 ZEC mark. This isn't casual investing—it's a strategic crawl toward controlling a full 5% of the entire ZEC supply. The move signals deep conviction in privacy tech's future, betting against the grain of increasing regulatory scrutiny.
Why This Matters
Large-scale accumulation by a publicly-traded entity changes the game. It provides institutional-grade validation for a sector often dismissed by traditional finance—the same folks who thought subprime mortgages were a solid investment. This level of commitment can anchor the asset, potentially reducing volatility and attracting a different class of investor.
The Bigger Picture
This isn't just about price. It's a power play for influence within the Zcash ecosystem. Controlling a significant stake could shape governance and development priorities, making Cypherpunk a central player in the protocol's future. They're not just buying coins; they're buying a seat at the table.
As legacy finance continues to fumble with blockchain, real players are building positions in the technologies that will define the next era of digital value. Sometimes, the smartest trade is buying what Wall Street doesn't yet understand.
Cypherpunk Pushes Ahead With Zcash Strategy
The company first revealed its Zcash-focused treasury approach in November. This came after a rebrand from Leap Therapeutics. At the same time, Cypherpunk announced a $58.9 million investment from Winklevoss Capital. The firm also disclosed an initial ZEC purchase of around 204,000 coins.
Zcash has a capped maximum supply of 21 million coins. Roughly 16.5 million ZEC are currently in circulation. Cypherpunk has now accumulated more than one-third of its 5% target.
Chief Investment Officer Will McEvoy said the company will continue with its accumulation strategy. He noted that the market is shifting its view on the importance of privacy. He also reiterated that the company remains focused on building its Zcash position.
Zcash Pullback Shapes Cypherpunk’s Next Moves
The latest purchase comes during a period of weaker ZEC price action. ZEC traded near $650 when Cypherpunk started building its treasury in November. At that time, the coin had reached a multi-year high. The price has since cooled. As of Tuesday, ZEC traded around $535, marking a decline of about 12% from earlier levels.
Cypherpunk’s stock has also faced pressure. When the company launched its new strategy, its shares traded just under $3. They have since fallen to around $1.20. This marks a drop of roughly 60% since the company’s debut on Nasdaq.
Despite the decline, Cypherpunk continues to emphasize Zcash as a central part of its treasury model. Winklevoss has described ZEC as a “privacy hedge” to Bitcoin. He has also pointed out the importance of privacy-focused cryptocurrencies in periods of rising oversight.
Cypherpunk stated that it will continue expanding its ZEC position. The company is also exploring investments tied to privacy-preserving technologies. It said privacy remains an important component of its long-term strategy. It also noted that ZEC will remain a Core asset as it builds its treasury over time.
