Cypherpunk ditches Ether and Monero in favor of Bitcoin

by in Cryptocurrency News


Another financial giant reported an increase in investment in bitcoin. Canadian investment firm Cypherpunk announced last Thursday that it had purchased 72,979 BTC since June 30, 2020.

The increase in Bitcoin reserves was the result of the liquidation of the company's assets in Ether (ETH) and Monero (XRM) for up to C $ 388,000 and C $ 505,000, respectively. Currently, the investment company controls 276,479 bitcoins for a total amount of up to $ 4.8 million.

Cypherpunk is ranked ninth in the list of public cryptocurrency holders. It is known that now 14 large financial companies control part of bitcoins.

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In total, they have 66,896.50 BTC, which is equivalent to 3.2% of the total digital currency supply.

Cypherpunk is listed on the Canadian Stock Exchange. In addition to this company, other financial giants (for example, MicroStrategy and Grayscale) also periodically increase their reserves in bitcoin.

We will remind, earlier the Grayscale company, which manages the assets, announced that more than 500,000 BTC are now under the control of its bitcoin trust.