Bitcoin’s strong bullish run and its legacy as the strongest cryptocurrency in the world has attracted many businesses for wider BTC adoption.
Now Cypherpunk Holdings is the latest to increase its BTC holdings and thereby becoming the ninth largest public holder of Bitcoin.
Cypherpunk Holdings Inc is a leading publicly traded merchant investing in blockchain and crypto has toppled the croton news circles by buying additional bitcoins worth approx. 1.2 Million dollars.
CypherPunk Buys Additional Bitcoins by Liquidating ETH and XMR
With Cypherpunk Holdings buying additional Bitcoins, the company owns a massive 4.6 Billion USD worth of Bitcoins after fully incentivizing its Monero and Ethereum positions.
Cyberpunk announced on the official press release that they are increasing the BTC holdings to 276.479 by buying an additional 72.979 BTC through full liquidation of its XMR and ETH positions. It also used the proceeds from its private investment of 505 000 Canadian dollars, which happened on Augustt this year.
As the price of Bitcoin continues to soar amid few corrections, a lot of companies are buying additional BTC to solidify their stakes in the market and gain in the long run. Even though Cyberpunk is a smaller company with a lesser market capitalization below 7 Million USD, it is fast transitioning to become a company with constantly increasing Bitcoin treasuries.
The company is popular as its CEO; Antennas Gouga is a world-famous and richest professional poker player in the world with an estimated net worth of 36 Million USD. The Lithonia based businessmen running the company thus attracts major attention in the crypto markets.
After mainstream players like MicroStrategy, Grayscale, and PayPal adopting Bitcoin at a large scale, even the smaller companies are venturing into the Bitcoin space.
Cyberpunk Holdings is an investment service provider that helps investors venture into bitcoin and privacy technology and is listed on the CSE(Canada Stock Exchange) under the HODL ticker. The firm with several privacy-focused businesses under its credit like Samurai and Wasabi wallet. It is also a leading investor in Hydro66 and Chia Network. With the new BTC procurement, Cypher technologies become the ninth-largest Bitcoin token holder with BTC stakes from the company close to 4,8 million USD.
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