Winklevoss Brothers Launch Major Investment in Zcash through Cypherpunk Translation: Winklevoss Brothers Launch Major Investment in Zcash through Cypherpunk

The Winklevoss twins, Tyler and Cameron, through their investment firm Winklevoss Capital, have allocated over $50 million to the company Cypherpunk, which aims to accumulate the private cryptocurrency Zcash (ZEC).

«Privacy is a prerequisite for many of our freedoms. It marks the boundary where governmental and corporate power ceases and individual liberties and sovereignty commence. As our lives transition online, privacy has become a rare and dwindling commodity. This is precisely why we established Cypherpunk,» Tyler Winklevoss expressed in an announcement.

The company has commenced accumulating ZEC at «a significant discount to its true long-term value.» At the time of its launch, the firm held a balance of 203,775 ZEC (approximately 1.25% of the total supply).

The coins were acquired at an average price of around $245, fully utilizing the initial investments from Winklevoss Capital.

Cypherpunk intends to rapidly collect ZEC, aiming to reach a treasury volume of 5% of the total supply—approximately 819,000 tokens.

«Since Zcash’s launch nine years ago, we have observed its symbiotic relationship with Bitcoin. Zcash is a fork of Bitcoin, meaning they share the same tokenomics: both have a fixed supply of 21 million coins. If BTC is digital gold, then ZEC is encrypted Bitcoin or digital cash,» Tyler noted.

As of this writing, Cypherpunk is traded on Nasdaq under the ticker LPTX but will soon change to CYPH. According to MarketWatch, the company was previously known as Leap Therapeutics Inc and specialized in biopharmaceuticals.

It is likely that the firm has become one of the SPAC vessels to facilitate an easier market entry via acquisition. Similar strategies have been employed by several Donald Trump-affiliated organizations, Tron Inc, the cloud mining service provider BitFuFu, and many others.

Following the announcement of Zcash accumulation, Cypherpunk’s stock surged by 368% during the last trading session.

In the remainder of the post, Tyler Winklevoss highlighted the benefits of ZEC’s privacy features. Near the end, he predicted Bitcoin’s price could reach $1 million in the next five to ten years, along with a parallel success for Zcash.

It is worth noting that amidst the 1500% surge of the anonymous coin over two months, analysts warned about the potential for a price crash.

BitMEX co-founder Arthur Hayes urged holders to withdraw their ZEC from centralized exchanges in favor of non-custodial storage.