Cypherpunk Holdings sold all of its bitcoin and Ethereum due to market downturn

Cypherpunk Holdings sold all of its bitcoin and Ethereum due to market downturn

Cypherpunk Holdings sold all of its bitcoin and Ethereum assets due to market downturn

Cypherpunk Holdings, an investment company, sold all of its bitcoin and Ethereum assets amid a downturn in the market.

The company sold 205.8209 ETH for 293,000 CAD (over $227,000 at the time of writing) and 214.7203 BTC for just over 6 million CAD (over $4.7 million).

Total sale proceeds cryptocurrencies amounted to 6,378,787 Canadian dollars (almost $5 million).

Cypherpunk Holdings said that the company has withdrawn all bitcoins and Ethereum into cash amid high risks of a further significant fall in the prices of cryptoassets. Until market conditions change, funds will continue to be held in cash.

At the same time, the head of the company, Jeff Gao, emphasized that Cypherpunk Holdings maintains long-term bullish forecasts for cryptocurrencies and plans to capitalize on investment opportunities as they arise. up to $900. Analysts allow a further drop in the value of the first cryptocurrency up to $10,350.

Surrender phase: when the price of bitcoin will resume rising

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