Solana

Bitcoin

Giant

Cypherpunk Holdings has purchased nearly 23,000 more SOLs since mid-July, bringing its total Solana holdings to 86,294 tokens worth $21.6 million.
Historically, Cypherpunk was one of the first publicly traded firms to invest in Bitcoin as a proxy for cryptocurrency investment.
In contrast to the increased Solana holdings, Cypherpunk reduced its large Bitcoin holdings by approximately 110 BTC, leaving it holding just over 52 BTC worth $5.2 million. The firm used approximately 45 of these BTCs to execute a buy order for 20,000 SOL options, while the remaining BTCs were sold for a profit, as detailed in its public filing. Cypherpunk made its first BTC purchase in 2018.
Leah Wald, who took over as CEO in early July, initially stated that Bitcoin was “by far” the firm's largest asset. Also significant at the time was the multimillion-dollar investment in metaverse company Animoca Brands. However, the latest moves indicate a strategic shift, with the firm reducing its BTC exposure and selling $5.6 million worth of Animoca shares.
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Although the nominal value of Cypherpunk's Bitcoin investment is more than double its investment in Solana, it is clear that the firm is more focused on SOL. Solana validators who have staked the majority of the company's Solana assets have earned over 230 SOLs worth approximately $57,639 in token rewards since staking began on June 14.
“The Solana ecosystem offers a lot of interesting opportunities,” Wald said in a previous interview.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/giant-company-announces-selling-bitcoin-buying-this-altcoin-instead/" rel="noopener noreferrer nofollow">Giant Company Announces Selling Bitcoin, Buying This Altcoin Instead</a>

Giant Company Announces Selling Bitcoin, Buying This Altcoin Instead

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