Canadian investment company Cypherpunk Holdings sold ETH and XMR stocks and invested the proceeds in bitcoin. The company’s investment in BTC has increased by 279% since the end of the second quarter of this year.
According to a statement from Cypherpunk Holdings, the firm owned 72,979 BTC in mid-summer. The investment company funded additional bitcoin purchases by “completely liquidating” the XMR and ETH positions and now owns 276,479 BTC.
A portion of the proceeds received from the private placement of securities in the amount of 505,000 Canadian dollars was also used to purchase BTC. Cypherpunk is listed on the Canadian Stock Exchange under the ticker HODL.
Recall that other well-known public companies, such as MicroStrategy and Square, have also diversified their investments this year, investing in the first cryptocurrency.
Recently, the CEO of Galaxy Digital, Mike Novogratz, said that it is worth investing in bitcoin at least 3% of the portfolio and storing BTC at least until 2025.