Cypherpunk Technologies Expands Zcash Treasury with 29M Dollar Purchase
Cypherpunk Technologies, a Nasdaq-listed firm backed by Winklevoss Capital, announced on December 30, 2025, that it has acquired an additional 56,418 Zcash (ZEC) tokens for approximately $29 million. This latest purchase marks a significant milestone in the company’s “digital asset treasury” strategy, bringing its total holdings to 290,062 ZEC. This represents roughly 1.76% of the total circulating supply of the privacy-centric cryptocurrency, which is capped at 21 million units similar to BTC. The acquisition was executed at an average price of $514 per token, significantly higher than the company’s cumulative average cost basis of $334. Despite the premium paid, the firm remains committed to its long-term objective of controlling 5% of the Zcash network, positioning itself as a primary institutional proxy for the growing demand for financial anonymity.
The Repricing of Privacy and Strategic Advisory Appointments
Will McEvoy, the Chief Investment Officer of Cypherpunk Technologies, noted that the company is specifically targeting Zcash because the broader market is beginning to reprice the “societal importance of privacy.” This sentiment is echoed by recent advisory appointments, as the company has welcomed Zcash founder Zooko Wilcox and Electric Coin Company CEO Josh Swihart to its leadership team. The institutional support for ZEC arrives as privacy coins experience a resurgence in the cultural and financial zeitgeist, with many investors viewking a “hedge” against the increasing transparency of traditional public ledgers. By building a massive treasury of shielded assets, Cypherpunk Technologies is essentially creating a regulated vehicle for investors who wish to bet on the future of zero-knowledge technology without the complexity of managing their own Secret keys or shielded addresses.
Market Performance and the Path to One Thousand Dollars
The recent accumulation by Cypherpunk Technologies has coincided with an explosive year for Zcash, which has surged over 800% in 2025. Market analysts, including former BitMEX CEO Arthur Hayes, have pointed to a $1,000 price target for ZEC, citing the combination of institutional scarcity and the massive adoption of the network’s zero-knowledge proof features. Currently, over 30% of the ZEC supply is held in private pools—an all-time high that indicates robust user confidence in the protocol’s ability to provide true financial sovereignty. While the Cypherpunk Technologies stock has faced some volatility following its rebrand from biotech firm Leap Therapeutics, its 170% climb since November suggests that Wall Street is increasingly receptive to the “privacy treasury” model as a viable corporate strategy for the 2026 fiscal year.
