Canada Securities Exchange Listed Firm Increases its Investment in Bitcoin November 27, 2020 November 27, 2020 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Bitcoin NewsNovember 27, 2020 by Kelly Cromley

Canada Securities Exchange Listed Firm Increases its Investment in Bitcoin

Privacy centered Canadian investment firm Cypherpunk Holdings has increased its investment in Bitcoin (BTC). The company revealed Thursday that its Bitcoin reserves have increased by 72.979 since June 30, 2020.

Cypherpunk financed the purchase by selling off other cryptos in its portfolio, including Monero (XMR) and Ethereum (ETH), and also using a portion of C$505,000 (or $388,000) raised privately on August 27.

Following the purchase, Cypherpunk’s reserves of Bitcoin has increased to 276.479, giving it the credit of being the ninth largest publicly listed firm holding Bitcoin.

At current rates, Cypherpunk’s share in Bitcoin is valued slightly below $4.80 million. So far, a minimum of 14 publicly traded enterprises hold Bitcoin in their Treasury portfolio.

Put together, their holdings aggregate to 66,896.59 Bitcoin, worth $1.20 billion. That accounts for about 3.2% of Bitcoin’s circulating supply.

Cypherpunk Holdings, which is listed on the Canadian Securities Exchange, has multiple privacy-centered businesses on its books, including Samourai- and Wasabi Wallet. The company also purchased a stake in Hydro66, a green cloud framework platform, and smart contract covenant Chia Network.

The company is managed by a Lithuania based entrepreneur named Antanas Guoga aka Tony G. He is also a politician and ex-professional poker player. He also discharges relevant duties as member of Seimas, which is the legislative division of the government. Earlier, he offered his service as Member of European Parliament for Lithuania.

It seems several publicly traded enterprises are exchanging at least a portion of their cash reserves into Bitcoin considering the latter as a better store of value. MicroStrategy, which has used almost all of its cash reserves for the purchase of Bitcoin, is the principle example of the shift in perception of Bitcoin.

The company now owns 38,250 Bitcoin after roughly doubling its possession during the summer. With 16,402 Bitcoins, Galaxy Digital stands second in the list of publicly listed enterprises with huge holding of Bitcoins. It is followed by Square’s 4,709 BTC.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.