Winklevoss Capital Goes All-In On Privacy With New Venture Cypherpunk, $50M+ Zcash Buy

• Winklevoss Capital has led the launch of Cypherpunk, a company dedicated to privacy and self-sovereignty.
• The investment firm owned by the Winklevoss Twins invested over $50M in Zcash, an encrypted version of Bitcoin, and a privacy hedge to its transparency.
• The company projects Bitcoin to appreciate to $1 million per unit within the next decade and expects Zcash to also grow significantly.

Winklevoss Capital, a family office owned by brothers Tyler and Cameron Winklevoss, has raised funds for Cypherpunk, a new company with its focus on enhancing privacy and self-sovereignty in the crypto sphere. The renowned crypto entrepreneurs followed up with a $50 million+ investment in Zcash, a privacy coin and fork of Bitcoin, as the company’s initial holding.

Winklevoss Capital Leads $58M Raise for Cypherpunk’s Zcash Treasury

Announcing the investment on behalf of Winklevoss Capital, Tyler Winklevoss reiterated the necessity of privacy, citing that it is the “precondition for many of our freedoms, considering how much it inhibits government and corporate interference in our daily affairs, most of which are now online. The rarity and rapid disintegration of privacy would become the primary motivation behind the Gemini founders’ latest initiative.

“That’s why we founded Cypherpunk…— a company dedicated to privacy and self-sovereignty,” noted Tyler. “We will execute on our mission by accumulating, building, and supporting privacy-protecting assets and technologies at a time when the world needs them more than ever.”

ADVERTISEMENTCypherpunk Technologies Inc. is the rebranding of Leap Therapeutics (NASDAQ: LPTX), a company focused on “developing targeted and immuno-oncology therapeutics.” Led by Winklevoss Capital, Leap Therapeutics raised funds through a private sale of its shares to selected investors

At the close of the funding round, the company realized $58,888,888 in cash, which constitutes the investment capital for the digital asset treasury strategy that’s being actualized via Cypherpunk.

Consequently, Cypherpunk ($CYPH) began accumulating Zcash ($ZEC) at an average price of $245 per coin, which they believe is a discounted price based on projections of its long-term prospects

ADVERTISEMENTWith 203,775 ZEC in the new company’s treasury, it holds nearly 1.25% of the current ZEC supply. As Tyler announced, the plan is to “continue accumulating ZEC rapidly so that Cypherpunk owns at least 5% of the total ZEC supply.”

Why Zcash?

Cypherpunk will direct its focus for the meantime to Zcash, according to its CIO (Chief Information Officer) Will McEvoy, because Zcash is the “embodiment of privacy”. He also added that Zcash is “privacy in digital form.”

The firm sees a strong correlation and symbiotic relationship between Zcash, which is a fork of Bitcoin, and Bitcoin itself. The digital assets both share similar tokenomics, with both having a fixed supply of 21 million coins.

The driving ideology is that Bitcoin is digital gold, while Zcash is encrypted Bitcoin or digital cash. Tyler Winklevoss stated that they view one as a store of value and the other as a privacy medium for securely moving value.

In essence, Bitcoin is for holding wealth, while ZEC is for moving your wealth privately, making them complementary assets that could play a pivotal role in the AI economy

Cypherpunk forecasts that Zcash could become a significant part of Bitcoin’s market cap and appreciate significantly within the next 5-10 years alongside Bitcoin, which they believe would hit $1,000,000 per coin within this timeframe.

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