Cypherpunk acquires $29 million in Zcash as token explodes 866% this year

Source: CryptoBriefing Original Title: Cypherpunk acquires $29 million in Zcash as token explodes 866% this year Original Link: https://cryptobriefing.com/cypherpunk-acquires-zcash-56k-tokens/

Overview

Cypherpunk Technologies, a Nasdaq-listed company, has purchased an additional 56,418 Zcash (ZEC) for roughly $29 million, bringing its total holdings to more than 290,000 ZEC, or about 1.7% of all the coins currently in circulation.

Key Details

Acquisition Highlights:

• Additional ZEC purchase: 56,418 tokens
• Investment amount: ~$29 million
• Total ZEC holdings: 290,062.67 ZEC
• Market share: ~1.7% of circulating supply
• Average cost basis: ~$334 per coin

About Zcash: Zcash is an open-source crypto project maintained by developers and researchers who aim to give users stronger control over their financial data.

Market Performance

ZEC has staged a strong comeback this year, outperforming many major cryptocurrencies in terms of annual returns. The token is currently trading at $540, up 866% so far in 2025.

Company Vision

Backed by the Winklevoss twins’ family office, Cypherpunk started building its ZEC position in the past month. Will McEvoy, CIO of Cypherpunk, shared the company’s strategic direction:

“We continue to execute on our goal of accumulating 5% of the Zcash network. As our Zcash position grows, we are well-positioned for a market that is repricing the societal importance of privacy. We are excited to continue executing on our Zcash strategy while expanding our work across a broader set of privacy-preserving technologies and initiatives.”