ZEC news: Winklevoss twins-backed Cypherpunk holds 1.7% of supply after $28 million buy
Winklevoss-backed Cypherpunk Technologies bought $28 million in Zcash, increasing its holdings to 1.76% of the circulating supply.Summary
Cypherpunk Technologies (CYPH), a digital asset treasury firm supported by the Winklevoss twins, announced a $28 million purchase of privacy coin zcash (ZEC), bringing its total holdings to 290,062 ZEC, valued at $152 million, or roughly 1.76% of the circulating supply. The firm acquired 56,418 tokens at an average price of $514.02, resulting in a cost average of $334.41, placing it in a profitable position despite recent market corrections. Cypherpunk's Chief Investment Officer, Will McEvoy, stated the company is executing its goal to accumulate 5% of the Zcash network, believing the market is beginning to reprice the importance of privacy. This acquisition follows a previous $18 million ZEC purchase disclosed in November.
(Source：CoinDesk)