- According to the company’s Tuesday disclosure, Cypherpunk Holdings “significantly” raised its solana holdings.
- From its original $1 million investment, it currently possesses 63,000 SOL, valued at approximately $14 million.
- Additionally, the company is using its own node to stake most of its coins and is operating its own Solana validator.
According to a statement released on Tuesday, Cypherpunk Holdings has dramatically boosted its solana holdings. The publicly traded investment corporation located in Toronto, Canada, has increased the value of its SOL bag from 6,131 SOL last month to over 63,000 tokens, valued at almost $14 million.
Early in July, Leah Wald, the creator and former CEO of the first cryptocurrency fund, Valkyrie Investments, became the CEO of Cypherpunk. She had been seated at the board.
The Solana ecosystem offers a plethora of intriguing prospects, as Wald recently stated. Right now, there’s a lot of community engagement on the chain, and I think that developer and community participation has a direct impact on a blockchain’s growth.
According to Wald, the cryptocurrency that Cypherpunk has invested in the most is bitcoin, which it began buying in April 2019—the same month the company went public on the Canadian Securities Exchange under the symbol HODL.
The company revealed last month that it has begun investing in Solana, purchasing 1 million coins at an average price of $163.11. Simultaneously, Cypherpunk liquidated its second-largest holding, almost $1 million worth of shares in Hong Kong-based metaverse company Animoca Brands.
Under Wald’s supervision, Valkyrie, the first company to introduce an exchange-traded fund for bitcoin futures on the Nasdaq, accumulated $1.3 billion in assets. In January, CoinShares International fulfilled its option to purchase the company.
Based on its most recent financial statement, Cypherpunk’s total assets climbed by $14.3 million to $31.3 million during the previous six months. It maintains stakes in the hardware wallet NGRAVE, the bitcoin mining industry, the Chia Network, and Coinbase as a custodian for its Bitcoin and SOL, in addition to other equity assets.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
