Is Zcash the Next Corporate Treasury Play? Cypherpunk Now Holds Nearly 2%

Cypherpunk Technologies has deepened its bet on Zcash, adding fuel to a growing debate over whether privacy-focused cryptocurrencies can play a role similar to Bitcoin in corporate treasuries. The Nasdaq-listed company said it purchased an additional 56,418.09 ZEC for about $29 million at an average price of $514.02 per token. With the latest transaction, Cypherpunk now holds 290,062.67 ZEC, equal to roughly 1.76% of Zcash’s circulating supply. The company said its total position was accumulated at a b ...