Cypherpunk Holdings Doubles SOL Reserves

According to the latest statistics, Cypherpunk Holdings now owns about $21.6 million in Solana (SOL).

Cypherpunk Holdings, an investment firm from Toronto (Canada), remains confident in Solana. Since mid-July, the company has purchased an additional 23,000 SOL - bringing its total portfolio to 86,294 tokens, approximately $21.6 million.

As of the end of Q1/2024, Cypherpunk still did not hold any SOL tokens. However, the company quickly made its first investment worth more than $14 million in late June - early July.

At the same time as investing in SOL, Cypherpunk halved its Bitcoin reserves, from 110 BTC to just 52 Bitcoin ($5.2 million). The company used about 45 BTC of this to buy 20,000 SOL options, the rest were sold for profit.

Since Leah Wald became CEO of Cypherpunk in early July, she has stated:

“Bitcoin is the company’s largest investment. Its multimillion-dollar investment in metaverse company Animoca Brands is not far behind. However, the company will now likely go in a different direction by reducing its exposure to Bitcoin and selling all $5.6 million of Animoca stock.”

Cypherpunk has reportedly sold nearly $1 million of Animoca Brands stock, but remains the company’s second-largest shareholder.

While the face value of its Bitcoin investment is still more than double that of Solana, it is clear that the company is focusing its portfolio on the blockchain. Not only is Cypherpunk Holdings “all in” on SOL, it has also been operating a node on this ecosystem since June 14. Cypherpunk’s validators have collected over 230 SOL in rewards since its inception.

Cypherpunk first bought Bitcoin in 2018 and was the 9th largest public company holding Bitcoin at the time. To date, in addition to $4.9 million in cash, Cypherpunk also holds $50,000 in other assets such as Chia Network, and $442,000 in private equity and venture capital investments in companies such as Bitcoin wallet NGRAVE.