Cryptocurrency reserves shift to privacy coins! Cypherpunk has accumulated nearly 300,000 ZEC, aiming to buy up 5% of the supply

Cypherpunk increases ZEC holdings again, approaching 2% of circulating supply. Corporate treasuries are clearly betting on privacy narratives, reflecting how privacy-focused crypto assets are being re-priced under regulatory and technological environments.

Cypherpunk increases ZEC holdings again, corporate treasury strategy shifts clearly toward privacy narratives

Nasdaq-listed company Cypherpunk Technologies announced recently (12/30) that it has purchased approximately 56,000 Zcash ($ZEC), with a total investment of about $29 million. After this transaction, Cypherpunk’s $ZEC total holdings have increased to about 290,000 coins, accounting for approximately 1.76% of Zcash’s circulating supply, moving closer to the company’s mid-term goal of “ultimately controlling 5% of the network supply.”

The company stated that the average purchase price was about $514 per coin, reflecting that it is not a short-term trade but considers ZEC a core long-term treasury asset.

Cypherpunk Chief Investment Officer Will McEvoy stated that as global society re-evaluates the public value of privacy, the company is disciplined in executing its established accumulation strategy and is not changing direction due to short-term price fluctuations.

From biotech to crypto treasury, Cypherpunk bets on Zcash’s long-term positioning

Cypherpunk was originally a biotech company, Leap Therapeutics, which completed a rebranding in 2025 to officially transform into a digital asset company focused on privacy-focused crypto assets. After receiving support from Winklevoss Capital, the company quickly established a corporate treasury allocation centered on Zcash and publicly declared that privacy would be an important structural theme for the next phase of the crypto industry.

Launched in 2016, Zcash uses zero-knowledge proof technology to verify transactions without revealing the parties or amounts involved. Its total supply cap is the same as Bitcoin’s, fixed at 21 million coins.

Cypherpunk management believes that in the context of increasing digital identity, real-time monitoring, and cross-border data sharing, the strategic value of privacy assets is being re-priced by the market. ZEC is expected to become a “privacy counterpart to Bitcoin.”

Privacy discussions heat up, ZEC outperforms mainstream assets significantly this year

Market data shows that $ZEC has gained over 800% since the beginning of the year, significantly outperforming Bitcoin and traditional safe-haven assets like gold and silver. This rally is driven not only by speculative capital but also reflects structural anxiety caused by regulatory environments and advances in AI technology. Several industry thought leaders have recently emphasized that privacy will become a key competitive advantage for the crypto industry in the coming years.

Former BitMEX CEO Arthur Hayes pointed out that as global liquidity cycles and regulatory pressures change, zero-knowledge and privacy technologies may once again become market focal points, with scenarios where $ZEC challenges the $1,000 level in the mid-term. However, some analysts warn that short-term prices may still experience technical corrections, and the implementation of privacy narratives will take time to digest.

New directions in corporate asset allocation, privacy-focused crypto assets become strategic options

Cypherpunk’s moves are seen by the market as a sign that corporate treasury strategies are diverging. While some listed companies are reducing Bitcoin allocations and returning to core businesses, Cypherpunk is instead choosing to concentrate on a single privacy asset, attempting to establish a differentiated position at the intersection of regulation and technological trends.

Currently, Cypherpunk is about 3.2 percentage points away from the 5% supply target. Continued accumulation will inevitably impact $ZEC market liquidity and structure. The company has also stated that it will view Zcash as a long-term core asset and explore broader privacy protection technologies and applications. As the global crypto market gradually moves toward compliance and traceability, this “counter-privacy” corporate treasury strategy is becoming a new variable closely watched by the market.

Further reading
Privacy needs return to the core: a key analysis of the rise of privacy coins from Zcash