Winklevoss-Backed Cypherpunk Doubles Down: Zcash Bet Now 1.8% of Total Supply Following $29M Treasury Expansion

Cypherpunk Holdings just made a power move. The investment firm, backed by the Winklevoss twins, has significantly increased its stake in the privacy-focused cryptocurrency Zcash. This isn't a small-scale bet—it now represents a commanding 1.8% of the entire Zcash supply.

The Fuel Behind the Bet

This aggressive accumulation follows a major capital injection. Cypherpunk's treasury recently expanded by a cool $29 million, providing the dry powder for this strategic acquisition. The move signals deep conviction in Zcash's underlying value proposition at a time when regulatory scrutiny around privacy coins is intensifying.

A Calculated Vote of Confidence

For a publicly-traded company to allocate such a substantial portion of its treasury to a single digital asset speaks volumes. It's a calculated, institutional-grade vote of confidence that goes beyond speculative trading. This is about positioning in what Cypherpunk clearly views as a foundational layer of the future financial stack—privacy and optional transparency.

The move also highlights a growing trend: sophisticated capital is no longer just chasing Bitcoin and Ethereum. It's strategically diversifying into protocols with specific, high-utility technological advantages. Zcash's zero-knowledge proof technology, which allows for verified transactions without exposing sender, receiver, or amount, represents one of the most potent tools in crypto.

Of course, in traditional finance, parking millions in an asset some regulators side-eye would be a career-ender—but then again, so would missing the internet. The old guard is still figuring out spreadsheets while the new architecture gets built.

TLDR

• Cypherpunk buys 56,418 ZEC, lifting holdings to 1.8% of Zcash supply worldwide
• Latest $29M purchase raises average cost to $334 as firm executes its plan steadily
• Market cools from highs near $650, yet Cypherpunk continues measured accumulation
• Rebrand and Winklevoss backing strengthen privacy strategy and ecosystem vision
• Company targets 5% network share and signals long-term commitment to Zcash

Cypherpunk advanced its Zcash accumulation strategy with another major purchase that lifted its treasury position to new levels. The company expanded its holdings during a period of shifting market sentiment, and it strengthened its long-term plan with steady execution. The move also pushed Cypherpunk further toward its stated 5% supply goal.

Zcash Position Strengthens After New Treasury Addition

Cypherpunk acquired 56,418 ZEC for about $29 million, and it increased its average purchase price with the latest transaction. The firm expanded its treasury as it continued pursuing a privacy-focused strategy that began after its corporate rebrand. Moreover, the accumulation advanced its total to 290,062 ZEC, which now equals around 1.8% of circulating supply.

Cypherpunk followed its earlier purchases from November, and it kept building its holdings despite uneven market action around ZEC. The company reported that its combined Zcash position reached a cumulative average price of $334 per coin. The MOVE aligned with its target to secure a sizeable share of the network.

Cypherpunk stated that the broader market is assigning new importance to privacy-focused assets, and it positioned itself accordingly. The firm expanded its approach as it highlighted rising attention on privacy technology. The strategy reinforced its shift away from its former biotech identity.

Market Conditions Shift as ZEC Trades Below Recent Highs

ZEC traded NEAR $650 when Cypherpunk began its initial build, and the asset later moved through a period of cooling. The market showed reduced momentum from earlier multi-year highs, and that shift created a different entry landscape. Cypherpunk continued increasing its exposure through measured accumulation.

Zcash maintains a capped maximum supply of 21 million coins, and this structure shaped Cypherpunk’s long-term thesis. The company emphasized scarcity as a Core element of its plan, and its growing position reflects that objective. Thus, the firm remains focused on acquiring additional supply as conditions evolve.

The firm also continued preparing to expand its work across privacy technologies, and it aimed to broaden its ecosystem role. Cypherpunk described its approach as long term, and it tied its strategy to changing expectations around digital privacy. Consequently, the company framed Zcash as a central asset in this transition.

Cypherpunk Expands Privacy Strategy and Long-Term Vision

Cypherpunk advanced its treasury strategy after securing a $58.9 million backing from Winklevoss Capital. The rebrand from Leap Therapeutics supported a full strategic reset, and it set the stage for ongoing Zcash accumulation. Hence, the company approached its roadmap with a stronger capital foundation.

The firm also positioned itself to expand beyond treasury activity, and it targeted additional privacy initiatives across its platform. Cypherpunk built this direction around the rising relevance of privacy infrastructure, and it reinforced this theme throughout its recent updates. As a result, the company expects to scale its presence in related sectors.

Cypherpunk plans to continue working toward its 5% target, and it aims to strengthen its long-term exposure to Zcash. The company signaled commitment through repeated acquisitions, and it maintains confidence in the asset’s role within its strategy. Overall, the firm’s latest purchase underscores a broader push to reshape its identity within the privacy market.