Cypherpunk Technologies Inc. purchases another $18 million worth of ZEC, bringing its total holdings to 1.43% of the network supply.

ChainCatcher reported that Cypherpunk Technologies Inc. (Nasdaq: CYPH) announced that the company has once again spent $18 million to purchase 29,869.29 ZEC (Zcash), with an average purchase price of $602.63.

Including the previously purchased ZEC worth $50 million, Cypherpunk's total ZEC holdings have now reached 233,644.56, with an average holding cost of $291.04. This acquisition brings the company's total ownership ratio in the Zcash network to 1.43%. Cypherpunk focuses on privacy and self-sovereignty, considering Zcash as "an asset form of digital privacy" and a hedge against Bitcoin's transparency and its financial infrastructure, especially in an AI-rich future.

Previously, the company had just appointed Will McEvoy, head of Winklevoss Capital, as Chief Investment Officer (CIO) and board member. Winklevoss Capital had previously led a $58.88 million private placement for the company. The company's goal is to eventually hold at least 5% of the total ZEC supply, continuously advancing its Zcash-centered digital asset treasury strategy.