Cypherpunk Technologies, backed by Cameron and Tyler Winklevoss, acquired $28 million of Zcash, bringing its total holdings to 290,062 ZEC, approximately 1.76% of the cryptocurrency’s circulating supply. The firm purchased 56,418 tokens at an average price of $514, building on prior acquisitions, including an $18 million purchase in November.
The company’s average cost basis of $334.41 per ZEC places it among the few digital asset treasury firms with unrealized gains following recent market volatility. Zcash has gained more than 1,200% since September, benefiting from renewed investor interest in privacy-focused coins and growing attention to digital asset confidentiality.
Cypherpunk’s chief investment officer, Will McEvoy, noted that the firm continues to target 5% of the Zcash network. The move signals strategic accumulation of privacy assets and reflects institutional interest in coins, emphasizing secure, private transactions amid broader market repricing.
