The Canadian public company downloads Ethereum and Monero for Bitcoin

A Canadian public company liquidated all of its holdings in ethereum and monero and invested all proceeds in bitcoin. The company is led by a well-known poker player and former member of the European Parliament.

Cypherpunk downloads Monero and Ethereum for Bitcoin

Cypherpunk Holdings, a Toronto-based firm listed on the Canadian Securities Exchange (CSE), announced Thursday that it has increased its bitcoin holdings to 276,479 bitcoins. At the current price, the company now holds around $ 5 million worth of bitcoin. Cypherpunk Holdings added that this is a net increase since June 30 of 72,979 bitcoins, elaborating:

The increase in bitcoin positions is the result of the complete liquidation of the monero (XMR) and ethereum (ETH) positions, as well as the partial use of proceeds from a private placement of $ 505,000 CAD that ended on August 27, 2020.

Founded in 1995, Cypherpunk Holdings was formerly known as Khan Resources Inc. but the company changed its name in November 2018. Cypherpunk invests in cryptocurrency and privacy technologies and is listed on the CSE under the ticker HODL. CEO Antanas Guoga, or Tony G, is a well-known high stakes poker player and former member of the European Parliament. He founded the Blockchain Center in Vilnius, Lithuania, in 2018.

Cypherpunk Holdings joins a growing list of major companies with a bitcoin treasury position such as Nasdaq-listed Microstrategy and Jack Dorsey’s Square Inc.

What do you think of this Canadian public company that downloads ether and monero for bitcoin? Let us know in the comments section below.

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