Cypherpunk Holdings Sells All its BTC and ETH Due to Market Crash
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29 June

Investment company Cypherpunk Holdings has just announced it has sold all of its Bitcoins and Ethereums coinciding with the current market downturn.

The company has reportedly sold 205.8209 ETH for more than $227,000 and 214.7203 BTC for just over $4.7 million.

Total proceeds from the sale of the cryptos have amounted to almost $5 million.

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Cypherpunk Holdings has reported the company has sold all of its Bitcoins and Ethereums due to the risk that there could be a further significant drop in the price of crypto assets. Until market conditions change, the funds will continue to be held in cash.

At the same time, the company CEO Jeffrey Gao has noted Cypherpunk Holdings maintains bullish long-term forecasts for cryptocurrencies and plans to capitalize on investment opportunities as they arise.

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