According to The Block, Canadian listed investment company Cypherpunk Holdings said in a statement released on Tuesday that it has significantly increased its holdings of Solana’s native token. To date, the company has more than 63,000 SOL tokens in its wallet, worth nearly $14 million, up from 6,131 SOL last month.

In addition to purchasing SOL, Cypherpunk also announced that it will run its own Solana verification node and will use its own Solana node to stake 49,917 tokens (worth approximately $11 million) while running a SOL options trading strategy.

Cypherpunk initially disclosed last month that it had begun investing in Solana, purchasing approximately $1 million worth of SOL at an average price of $163.11. Around the same time, Cypherpunk sold nearly $1 million in stock in its second-largest holding, Animoca Brands.

Founded in 2018, Cypherpunk Holdings is an investment company dedicated to emerging blockchain protocols and the Bitcoin ecosystem. Leah Wald, founder and former CEO of cryptocurrency fund pioneer Valkyrie Investments, joined Cypherpunk as CEO in early July. Leah Wald responded to Solana’s investment in an interview:

"The Solana ecosystem offers many interesting opportunities. There is a lot of community activity on the chain right now, and I do believe that the growth of the blockchain can be directly related to community and developer activity."

Leah Wald added that Cypherpunk’s largest investment remains in Bitcoin, which the company first began buying in April 2019, the same year it listed on the Canadian Securities Exchange under the ticker HODL. Over the past six months, Cypherpunk's total assets increased by $14.3 million to $31.3 million, according to its latest financial statements. It uses Coinbase as its custodian for BTC and SOL. In addition, the company holds Chia Network, hardware wallet NGRAVE and Bitcoin mining, among other equity investments.

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