Cypherpunk Holdings Inc. Announces Corporate Update on Strategy and Current Investments
Purchase of Monero Tokens and Depositing of Bitcoin to Generate Operating Income
Toronto, Ontario--(Newsfile Corp. - March 3, 2021) - Cypherpunk Holdings Inc. (CSE: HODL) ("Cypherpunk" or the "Company"), a sector leader for privacy-technology investments, is pleased to provide a corporate update summarizing the Company's current corporate plans and completed investments.
Cypherpunk Holdings is pleased to announce a purchase of 1,780 Monero tokens for CAD $500,000. This purchase of Monero strengthens the Company's investment thesis in becoming the world's leading privacy focused investment vehicle. According to Messari, Monero is also the world's leading privacy asset by market cap (https://messari.io/asset/monero). Additional information can be found at getmonero.org.
To further increase the cash flow and generate income, part of the Company's Bitcoin holding is being deposited to BlockFi for variable interest.
BlockFi is providing credit services to markets with limited access to simple products like a savings account. BlockFi sets itself apart from other crypto asset service providers by pairing market-leading rates with institutional-quality benefits. The company is the only independent lender with institutional backing from investors that include Valar Ventures, Galaxy Digital, Fidelity, Akuna Capital, SoFi and Coinbase Ventures.
The Company is currently devoting resources to researching the two promising sectors of Decentralized Finance (DeFi) and Non Fungible Tokens (NFT) as these are high growth areas. Cointelegraph reports the sales volume from the top three platforms grew to $342 million in February, up almost 400% from the $71 million recorded the month before.
About Cypherpunk Holdings Inc.
Cypherpunk is a company set-up to invest in companies, technologies and protocols, which enhance or protect privacy. Its strategy is to make targeted investments in businesses and assets with strong privacy, often within the blockchain ecosystem, including select cryptocurrencies. Current equity investments include Samourai Wallet, Wasabi Wallet, Chia, NGRAVE, and Hydro 66.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or indicates that certain actions, events or results "may", "could", "would", "might" or "will be" taken, "occur" or "be achieved". Forward-looking information includes, but is not limited to the Company's goal of making investments in the blockchain and other sectors and enhancing value. There is no assurance that the Company's plans or objectives will be implemented as set out herein, or at all. Forward- looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.
Investor Relations Contacts:
Investor Relations, Cypherpunk Holdings Inc.
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