Canadian Public Company Dump Ethereum and Monero for Bitcoin

A Canadian public company has liquidated all ethereum and monero holdings and put all proceeds into bitcoin. The company is headed by a well-known poker player and former member of the European Parliament.

Cypherpunk Dumps Monero and Ethereum for Bitcoin

Cypherpunk Holdings, a Toronto-based company listed on the Canadian Stock Exchange (CSE), announced Thursday that it has increased its bitcoin holdings to 276,479 bitcoins. At current prices, the company now holds around $5 million USD in bitcoins. Cypherpunk Holdings added that this is a net increase since June 30 from 72,979 bitcoins, explaining:

The increase in bitcoin holdings is the result of the full liquidation of positions in monero (XMR) and ethereum (ETH), as well as the partial use of the proceeds from a CAD $505,000 private placement that closed on 27 August 2022.

Founded in 1995, Cypherpunk Holdings was formerly known as Khan Resources Inc. but the company changed its name in November 2018. Cypherpunk invests in cryptocurrencies and privacy technologies and is listed on the CSE under the ticker HODL. The CEO of Antanas Guoga, or Tony G, is a well-known poker player and former member of the European Parliament. He founded the Blockchain Center in Vilnius, Lithuania, in 2018.

Cypherpunk Holdings joins a growing list of large companies with treasury positions in bitcoin such as Nasdaq-listed Microstrategy and Jack Dorsey’s Square Inc.

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