Cypherpunk Holdings has significantly increased its stake in Solana, according to a statement released Tuesday. The publicly traded investment firm, headquartered in Toronto, Canada, said in a statement. brush
+1.33%
The bag currently consists of over 63,000 tokens, worth around $14 million, up from 6,131 SOL last month.
At the end of Q1 2024, the company held “nil” tokens. In addition to purchasing SOL, the company announced that it will run its own Solana validator and stake the majority of its holdings, 49,917 tokens (valued at approximately $11 million), using its own Solana node. It also operates a SOL options trading strategy.
Leah Wald, founder and former CEO of cryptocurrency fund pioneer Valkyrie Investments, has joined Cypherpunk as CEO. In early JulyShe previously sat on the board of directors.
“The Solana ecosystem presents a lot of interesting opportunities,” Wald previously told The Block. “There’s a lot of community activity on the chain right now, and I think the growth of blockchain can be directly tied to community and developer activity.”
According to The Block, SOL rose about 2% over the last 24 hours to reach $160.04. Pricing Page.
World said Cypherpunk’s biggest investment has been “by far” Bitcoin, and the company first began buying the currency in April 2019, the same year it listed on the Canadian Stock Exchange under the ticker HODL.
Last month, the firm announced it had started investing in Solana, buying about $1 million worth of the cryptocurrency at an average price of $163.11 per coin. Around the same time, Cypherpunk sold nearly $1 million worth of shares in Hong Kong-based metaverse company Animoca Brands, its second-largest position.
Valkyrie, the first company to launch a Bitcoin futures exchange-traded fund on the Nasdaq, has $1.3 billion in assets under management under the management of World. CoinShares International exercised its option to acquire the company in January.
Cypherpunk’s total assets have increased by $14.3 million over the past six months to $31.3 million, according to its latest financial statements. The company uses Coinbase as a custodian for its BTC and SOL, and has positions in other equity investments, including Chia Network, hardware wallet NGRAVE, and Bitcoin mining sectors.
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