Nasdaq-Listed Company Makes Major Investment in Zcash, Targets 5% of Circulating Supply

Source: CryptoNewsNet Original Title: Nasdaq-Listed Company Makes a Large Investment in a Well-Established Altcoin! “Our Goal is to Acquire 5% of the Total Supply!” Original Link: While Ethereum (ETH) and many altcoins are expected to be adopted by major companies as part of treasury strategies in 2025, a treasury strategy has also been announced for Zcash (ZEC), one of the most talked-about altcoins recently.

NasdaqListed company Leap Therapeutics announced in November that it had adopted a Digital Asset Treasure (DAT) for the first time to accumulate Zcash. The company also announced that it has rebranded as Cypherpunk Technologies Inc.

Cypherpunk Technologies, a digital asset finance company backed by the Winklevoss brothers, announced its treasury plans and made its first Zcash purchase. The company initially acquired 203,775 ZEC, paying $50 million for the transaction.

The company is making steady progress in its ZEC treasury, and a second bulk ZEC purchase has been completed. According to the official statement, Cypherpunk spent $29 million to purchase an additional 56,418 ZEC at an average price of $514.02 per token.

Following this acquisition, the company’s total ZEC holdings reached 290,062 tokens, representing approximately 1.76% of the current circulating ZEC supply.

Cypherpunk CEO Will McEvoy stated that the company’s goal is to increase its ZEC holdings to 5% of the circulating supply:

“We continue to work towards achieving our goal of acquiring 5% of the Zcash network. As our position in Zcash grows, we are well-positioned for a market that is reassessing the societal importance of privacy. As we continue to implement our Zcash strategy, we are excited to expand our work into a broader range of privacy-preserving technologies and initiatives.”