Zcash News Update: Zcash's 15-Fold Jump Ignites Debate Over Privacy and Market Power in Crypto

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Zcash News Update: Zcash's 15-Fold Jump Ignites Debate Over Privacy and Market Power in Crypto

Bitget-RWA2025/11/23 10:40

By:Bitget-RWA

- Zcash (ZEC) surges 15x to $626 amid Bitcoin's 7-month low, sparking warnings from Bloomberg's Balchunas about privacy coins fragmenting crypto market support. - Winklevoss-backed Cypherpunk Technologies buys $18M ZEC, now holding 1.43% of supply as privacy-focused "censorship-resistant" asset gains institutional traction. - Bitcoin maximalists dismiss Zcash's rally as "Pump & Dump" schemes, while analysts debate whether privacy features undermine Bitcoin's institutional adoption narrative. - Market scrut

Zcash (ZEC) has been climbing sharply even as Bitcoin faces a downturn, prompting Bloomberg ETF analyst Eric Balchunas to caution that the privacy-focused cryptocurrency might "divide support" from

Bitcoin

at a crucial juncture for digital assets. Balchunas compared

Zcash

to a "third-party candidate" in an election, suggesting its momentum could splinter the backing Bitcoin needs to maintain its leading status, both culturally and politically,

according to reports

. The conversation has grown more heated as Zcash's value has soared more than 15-fold since early September,

hitting $626 per token

by late November, while Bitcoin has

dropped to its lowest point in seven months

around $88,637.

The surge in Zcash has caught the eye of major institutional players.

Cypherpunk Technologies

, a treasury company with backing from the Winklevoss twins, has emerged as one of the top Zcash holders,

acquiring an extra $18 million

worth of

ZEC

in November, bringing its total stash to 233,644 coins, now valued at $146 million

according to data

. This comes after an initial $50 million purchase, giving the firm control over 1.43% of all Zcash in circulation

according to reports

. The Winklevoss-backed company, which recently added former investor Khing Oei and Winklevoss Capital's Will McEvoy to its board, has

promoted Zcash as a "censorship-resistant" asset

in response to increasing interest in privacy-oriented digital currencies.

Zcash News Update: Zcash's 15-Fold Jump Ignites Debate Over Privacy and Market Power in Crypto image 0

Despite this, staunch Bitcoin advocates remain unconvinced. Hunter Horsley, CEO of Bitwise, questioned whether Bitcoin loyalists could genuinely support Zcash as a viable alternative, while

critics like Bit Paine on X

described Zcash's 1500% surge since October as a "coordinated Pump & Dump" operation. Arman Meguerian from Timestamp and Samson Mow of Jan3 also dismissed the notion that Bitcoin proponents are moving to Zcash, with Mow joking that Bitcoin maximalists "only pay attention to Zcash to roll our eyes at it"

according to reports

This ongoing debate highlights deeper divisions within the crypto community. Galaxy Digital's Will Owens contends that Zcash's zero-knowledge proofs represent a "return to cypherpunk values"

according to analysis

as blockchain surveillance increases, describing it as "Bitcoin with encryption". On the other hand, Balchunas and others caution that Zcash's emphasis on privacy could hinder Bitcoin's acceptance among institutions,

especially as Wall Street seeks

clearer regulatory guidelines for cryptocurrencies.

Zcash's recent rally has also raised concerns about hype-driven price swings. Analyst Rajat Soni pointed to fake news stories, such as a fabricated claim that Fidelity analysts predicted Zcash would hit $100,000,

as proof of artificially created buzz

. Meanwhile, former BitMEX CEO Arthur Hayes has

included Zcash in his family office's investments

, describing it as a useful complement to Bitcoin for private transactions.

As the conversation around Zcash and Bitcoin continues, the Winklevoss-backed treasury approach could mark a new era for privacy coins. Cypherpunk's Zcash assets, now worth $150 million, reflect a calculated wager on privacy-driven applications, even as critics claim this strategy

could weaken Bitcoin's image

as the digital equivalent of gold.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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