Zcash Plans Accelerate as Cypherpunk Technologies Expands Its $146M Privacy-First Treasury
Zcash (ZEC) is extending its explosive multi-week breakout, climbing 31% in the past seven days while most major cryptocurrencies—including Bitcoin and Ethereum—remain stuck in a steep downturn. Now, the rally has gained another catalyst: a publicly traded treasury firm is doubling down on the privacy coin.
Cypherpunk Technologies (Nasdaq: CYPH) revealed Wednesday that it acquired an additional 29,869.29 ZEC for $18 million, paying an average of $602.63 per coin. This follows its earlier purchase of 203,775.27 ZEC for $50 million, bringing its total holdings to 233,644.56 ZEC—about 1.43% of the entire circulating supply.
At current market prices, Cypherpunk’s ZEC war chest is now valued at more than $146 million, fueled by Zcash’s powerful surge. The coin recently traded around $626, up 125% in the last 30 days and soaring more than 15x since early September. Despite brushing past $700 several times this month, ZEC continues to swing sharply, reinforcing its reputation for volatility.
Even with the comeback, Zcash still sits far below its 2016 all-time high of $3,191.
A Rare Divergence From Bitcoin
While Zcash climbs, Bitcoin is moving in the opposite direction. After setting a fresh record above $126,000 in October, BTC has since collapsed to a seven-month low near $88,637, down over 12% this week. The contrasting trajectories have heightened market attention on privacy-focused assets.
Cypherpunk’s Growing Influence
Cypherpunk Technologies debuted its Zcash treasury earlier this month with backing from Winklevoss Capital, further strengthening its strategic push into privacy-centric crypto holdings. The firm recently added investor Khing Oei to its board and appointed Will McEvoy from Winklevoss Capital as both a board member and chief investment officer.
CYPH stock reacted sharply, rising nearly 6% on the day to $3.14—a staggering 469% surge over the last month.
Zcash’s Cypherpunk Roots Regain Relevance
Created in 2016 with participation from whistleblower Edward Snowden, Zcash was built from Bitcoin’s code but engineered for privacy. Its hallmark feature—shielded transactions using zero-knowledge proofs—allows movements of funds to be concealed from public blockchain trackers.
This characteristic may be fueling renewed interest. With Bitcoin now deeply embedded in mainstream finance through ETFs and institutional adoption, some crypto users are seeking assets that preserve the original cypherpunk ethos.
As one researcher noted this month, while Bitcoin’s transparency remains unchanged, Zcash is increasingly viewed as “encrypted Bitcoin”—an option resonating more strongly at a time of heavy on-chain surveillance.