Cypherpunk Buys $29M in ZEC, Plans to Control 5% Supply

2 mins mins

Key Insights:

Cypherpunk expands ZEC treasury to over 290,000 tokens after $29M purchase at $514 each.
The company now owns 1.76% of ZEC’s supply and plans to reach 5% soon.
ZEC strategy supports broader focus on digital privacy and biotech through Leap Therapeutics.

*Cypherpunk Buys $29M in ZEC, Plans to Control 5% Supply*

Cypherpunk Technologies Inc. has expanded its digital asset holdings with the purchase of 56,418.09 ZEC for approximately $29 million. The company paid an average price of $514.02 per token in this latest transaction.

Following the purchase, Cypherpunk holds 290,062.67 ZEC in total. This represents about 1.8% of the current circulating supply of the Zcash network. The company stated that its entire ZEC position was acquired at a blended average price of $334.41 per token.

Company Targets 5% of ZEC in Circulation

Cypherpunk has outlined a clear target for future acquisitions. “We continue to execute on our goal of accumulating 5% of the Zcash network,” said Will McEvoy, the company’s Chief Investment Officer.

The company has been building its position steadily over the past several months. This strategy is part of a broader focus on privacy-focused technologies. According to Cypherpunk, the growth of its ZEC holdings positions it for long-term opportunities as interest in digital privacy assets increases.

Dual Focus: Digital Assets and Health Innovation

Cypherpunk operates as a privacy-first technology company. Alongside its focus on ZEC, the company has ongoing projects in the biotechnology sector through its subsidiary, Leap Therapeutics, Inc.

Leap is currently working on new treatments for cancer, including the drug candidates sirexatamab and FL-501. While ZEC remains central to Cypherpunk’s digital asset strategy, the company is also committed to expanding its footprint in healthcare innovation.

Investor Communication and Public Filings

Cypherpunk confirmed it will continue to share updates through official channels, including SEC filings, its website, press releases, and its verified social media accounts. It encourages investors and stakeholders to monitor these platforms for future updates.

The company has issued a reminder that all forward-looking statements are subject to market, regulatory, and financial risks. Any projections are based on current information and may change based on new developments.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.