Canadian Public Company Dumps Ethereum and Monero for Bitcoin
A Canadian publicly held company has liquidated all of its ethereum and monero holdings and put all of the proceeds into bitcoin. Cypherpunk Holdings, a Toronto-headquartered company listed on the Canadian Securities Exchange (CSE), announced Thursday that it has increased its bitcoin holdings to 276.479 bitcoins.
Cypherpunk Holdings added that this is a net increase since June 30 of 72.979 bitcoins, elaborating:
The increase in bitcoin holdings is a result of the full liquidation of positions in monero (XMR) and ethereum (ETH), as well as the partial use of proceeds from a private placement of $505,000 CAD that closed on August 27th, 2020. Cypherpunk Holdings joins a growing list of major companies with a treasury position in bitcoin such as the Nasdaq-listed Microstrategy and Jack Dorsey’s Square Inc.
