A Canadian publicly owned company has liquidated all of its holdings of Ethereum and Monero and put all of its proceeds into Bitcoin.

The Canadian company that is the subject of our article is “Cypherpunk” led by a well-known poker player and former member of the European Parliament.

Canadian company Cypherpunk dumps Ethereum and Monero in exchange for Bitcoin:

announced The company “Cypherpunk Holdings”, which is headquartered in the Canadian city of “Toronto” and listed on the Canadian Stock Exchange (CSE), last Thursday it increased its holdings of Bitcoin to 276 Bitcoin.

At the current price, the company now owns about $5 million worth of bitcoin.

Read:How much is the Bitcoin supply that hasn’t moved for 10 years?

Cypherpunk added that this is an increase from the June 30 number of 72 bitcoins, with a clarification that:

The increase in bitcoin holdings is the result of the complete liquidation of positions in Monero (XMR) and Ethereum (ETH), as well as the partial use of proceeds from a C$505,000 private placement that closed on August 27, 2020.

Founded in 1995, Cypherpunk was formerly known as Khan Resources Inc.

But the company changed its name in November 2018.

Cypherpunk invests in cryptocurrency and privacy technologies and is listed on the Canadian Securities Exchange (CSE).

As for the CEO of the company, Mr. Antanas Gyuga is a high-stakes poker player and former member of the European Parliament, who previously established the Blockchain Center in Vilnius, Lithuania, in 2018.

Cypherpunk joins the growing list of major companies investing in bitcoin such as Nasdaq-listed Microstrategy and Square, founded by Twitter founder Jack Dorsey.

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