Cypherpunk Technologies Inc. has purchased an additional $18 million in ZEC, bringing its total holdings to 1.43% of the network supply

Cypherpunk Technologies Inc. (Nasdaq: CYPH) announced that the company has once again invested $18 million to acquire 29,869.29 ZEC (Zcash), with an average purchase price of $602.63.

In addition to the previously purchased ZEC for $50 million, Cypherpunk's total holdings of ZEC have reached 233,644.56 coins, with an average cost basis of $291.04. This acquisition brings the company's total ownership percentage in the Zcash network to 1.43%. Cypherpunk focuses on privacy and self-sovereignty, believing that Zcash is a "form of digital privacy asset" and a hedge against the transparency of Bitcoin and its financial infrastructure, especially in an AI-rich future.

Previously, the company appointed Will McEvoy, head of Winklevoss Capital, as Chief Investment Officer (CIO) and board member. Winklevoss Capital had previously led a $58.88 million private placement for the company. The company's goal is to ultimately hold at least 5% of the total ZEC supply, continuously advancing its Zcash-centric digital asset treasury strategy.