Winklevoss-Backed Cypherpunk Pushes Deeper Into Zcash as Privacy Assets Gain Traction

The Winklevoss twins’ privacy-focused venture Cypherpunk has made another substantial move in the Zcash ecosystem, securing an additional 56,418.09 ZEC tokens valued at approximately $29 million in a strategic acquisition. This latest purchase signals continued conviction in the leading privacy-focused digital currency even as broader market conditions remain challenging for treasury-focused crypto firms.

Building Toward a 5% Network Position

Cypherpunk’s cumulative Zcash holdings now reach 290,062.67 ZEC, worth roughly $152 million and representing approximately 1.76% of the circulating ZEC supply. The company has been systematically executing purchases across recent months with a clear objective: accumulating 5% of the Zcash network’s total supply. At an average acquisition price of $514.02 per token during this latest round, the company demonstrates a deliberate accumulation strategy regardless of short-term price volatility.

“We continue to execute on our goal of accumulating 5% of the Zcash network,” explained Will McEvoy, CIO of Cypherpunk. “As our Zcash position grows, we are well-positioned for a market that is repricing the societal importance of privacy. We are excited to continue executing on our Zcash strategy while expanding our work across a broader set of privacy-preserving technologies and initiatives.”

Market Positioning in Privacy Infrastructure

Cypherpunk stands out among digital asset treasury companies for anchoring its portfolio primarily in Zcash rather than Bitcoin or Ethereum alternatives. This concentrated bet on privacy infrastructure reflects growing recognition that financial privacy may become a more valued market segment. The timing of the accumulation strategy coincides with broader institutional reassessment of digital privacy’s role in financial infrastructure.

Following the announcement, ZEC experienced downward pressure, trading around $507 before recovering. Current market data shows ZEC trading near $492.83 with a circulating supply of approximately 16.48 million tokens and a market capitalization of $8.12 billion, demonstrating the relative scale of Cypherpunk’s emerging influence in the ecosystem.

The company’s methodical approach contrasts with the more cautious stance many treasury-focused crypto firms have adopted during the current market environment, positioning Cypherpunk as an outlier willing to make substantial commitments to privacy-centric infrastructure.