A Canadian listed company has liquidated all its Ethereum and Monero assets and invested all proceeds in Bitcoin. The company is led by a well-known poker player and former member of the European Parliament.

Cypherpunk exchanges Monero and Ethereum for Bitcoin

Cypherpunk Holdings, a Toronto-based company listed on the Canadian Stock Exchange (CSE), announced on Thursday that it has increased its Bitcoin holdings to 276.479 Bitcoin. At current prices, the company now holds about $5 million in Bitcoin. Cypherpunk Holdings added that this is a net increase of 72.979 Bitcoin since June 30, detailing:

The increase in Bitcoin holdings was attributed to the full liquidation of Monero (XMR) and Ethereum (ETH) positions, as well as the use of part of the 505,000 Canadian dollars from private placements (closed on August 27, 2020).

Cypherpunk Holdings was founded in 1995 as Khan Resources Inc., but the company changed its name in November 2018. Cypherpunk invests in cryptocurrency and privacy technology and is listed on the CSE under the stock code of HODL. The CEO Antanas Guoga or Tony G is a well-known high-stakes poker player and a former member of the European Parliament. He established the Blockchain Center in Vilnius, Lithuania in 2018.

Cypherpunk Holdings has joined an increasing number of major companies holding treasury positions in Bitcoin, such as Microstrategy and Jack Dorsey’s Square Inc., which are listed on the Nasdaq.

What do you think of this Canadian listed company’s idea of ​​dumping ether and monero bitcoin? Let us know in the comments section below.

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