31 Mar 2023

Sol Strategies Team

Cypherpunk Announces Update on Treasury Management and Current Holdings

Toronto, Ontario—Cypherpunk Holdings Inc. (CSE: HODL) (OTC Pink: CYFRF) is updating its strategy on treasury management, revealing a substantial allocation to Bitcoin and reaffirming its commitment to investments in privacy and blockchain technologies.

Cypherpunk Holdings Inc. (CSE: HODL) (OTC Pink: CYFRF) (“Cypherpunk” or the “Company”), a leading entity in blockchain, privacy, and cryptography-focused investments, announces an update on its treasury management strategy.

Board Resolution

The Board of Cypherpunk Holdings has resolved to diversify the Company’s treasury by increasing its holdings in decentralized cryptocurrencies. Specifically, the Board has approved the allocation of up to 40% of the Company’s current Net Assets to Bitcoin. To date, the Company has acquired 69 Bitcoins at a total cost of CAD $2.58 million (USD $1.91 million), with an average purchase price of CAD $37,416 (USD $27,653) per Bitcoin.

Jon Matonis, Chief Economist of Cypherpunk Holdings, stated: “Bitcoin is in a secular bull market as it progresses towards its 5th halving epoch, anticipated around early April 2024. This cycle is marked by unexpected tailwinds, including Bitcoin’s gradual decoupling from its recent correlation with the S&P 500 and its emergence as a strong independent safe-haven asset.”

Other Holdings

The Company continues to hold equity investments in Animoca Brands, Chia Networks Inc., zkSnacks Ltd (dba Wasabi Wallet), NGRAVE, and Samourai Wallet. Additionally, Cypherpunk owns approximately 2500 TH of mining hardware, which is operated under contract by MineOn LLC (dba MiningStore).

About Cypherpunk Holdings Inc.

Cypherpunk Holdings was established to invest in currencies, companies, technologies, and protocols that enhance or protect privacy. The Company’s strategy focuses on targeted investments in businesses and assets with strong privacy attributes, particularly within the blockchain ecosystem, including select cryptocurrencies. Current equity investments include Samourai Wallet, Wasabi Wallet, Chia, NGRAVE, and GOAT.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information can be identified by terms such as “plans,” “expects” or “does not expect,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates” or “does not anticipate,” or “believes,” and similar expressions or indications of future events or results.

There is no assurance that the Company’s plans or objectives will be implemented as described, or at all. Forward-looking information is based on certain factors and assumptions that the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events may differ significantly from those anticipated. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are based on management’s beliefs, estimates, and opinions at the time they are made, and the Company assumes no obligation to update forward-looking statements except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

Investor Relations Contact:

Tony Guoga
Chief Executive Officer
tony@cypherpunkholdings.com
Office: 1-647-946-1300

Veronika Oswald
Investor Relations
veronika@cypherpunkholdings.com
Office: 1-647-946-1300

SOURCE

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