Investment and security company Cypherpunk Holdings is among the largest public holders of Bitcoin.
In recent days, Cypherpunk Holdings, a Canadian company that specializes in security and investment, became the ninth largest public holder of Bitcoin. This event took place after the firm had sold its holdings in the cryptocurrencies Monero (XRP) and Ethereum (ETH).
In a press release, the firm that focuses on investment privacy solutions announced its move. In this way, they ensure that they have added new funds in the most popular cryptocurrencies to their reserves.
The amount that the firm added is 72,979 BTC, which currently represents a value of USD 1.2 million. With this move, the Toronto-based firm becomes the ninth company with one of the largest public holdings of Bitcoin in its reserves.
Security Company Exceeds USD 4.6 Million Worth of Bitcoin
There was an exponential increase in the Bitcoin funds of company Cypherpunk Holdings, which focuses on investment and security. The said funds reached 276,479 BTC, which is equivalent to USD 4.6 million. The new acquisition occurred as a result of the sale of their XRP and RTH holdings, as well as the special allocations that they received in August.
The latter represented a little more than 500 thousand Canadian dollars (CAD), which is equivalent to USD 380 thousand. The entry of this firm into the top 9 of the largest public Bitcoin holders allows it to join an exclusive group of firms that include MicroStrategy, Galaxy Digital, and Square.
On the other hand, the firm is number 24 in the general ranking of Bitcoin holding. The absolute champion in this field is Grayscale Bitcoin Trust, which precedes Block.one.
One relevant factor is that Cypherpunk Holdings is listed on the Canadian Stock Exchange. Likewise, this Bitcoin holder has security and privacy company Wasabi Wallet under its title.
A Trend that is on the Rise
Just a few years ago, these types of public fund firms would not have wanted to “risk” their funds by investing them in cryptocurrencies. Currently, this is a trend that is becoming increasingly popular.
One of the first companies to take this step and succeed is MicroStrategy. Others joined later, thus expanding the percentage of their capital to invest in Bitcoin, treating this cryptocurrency as a reserve asset.
Within the same wave, security company Bitcoin Cypherpunk Holdings joins this select group of pioneering investment companies.
It is important to note that this firm belongs to Lithuanian businessman and politician Antanas Gouga. This investor is currently a member of the Parliament of his country. Besides, he has represented his political class in the Parliament of the European Union (EU) on past occasions.
The relevance of Bitcoin has grown exponentially this year, which is evident in the participation of institutional investors. Cypherpunk Holdings and MicroStrategy are just two of the many groups that have dared to invest large sums in the pioneering cryptocurrency.
By Willmen Blanco
