Arthur Hayes Reveals Zcash as Second-Largest Holding for Family Office After Bitcoin

In an exciting development, BitMEX co-founder Arthur Hayes has announced that Zcash (ZEC) has risen to become the second-largest liquid asset in his family office's investment portfolio, following Bitcoin (BTC). This increase in status is largely due to a significant price rally, and it comes amid a broader surge in privacy-focused cryptocurrencies.

Key Takeaways

Arthur Hayes has named Zcash as the second-largest holding of his family office, following Bitcoin.
Zcash's price surged over 400% in the past month, climbing from $137 to over $730.
As of now, Zcash is experiencing a price correction, trading at $548, down approximately 12% in the last 24 hours.
The Zcash Foundation claims the renewed interest in ZEC stems from rising public concerns about privacy and government surveillance.

Arthur Hayes says Zcash has become his family office’s second-largest holding after Bitcoin

Zcash's Recent Surge in Value

BitMEX co-founder Arthur Hayes recently noted on X that Zcash has become the second-largest liquid investment in the MaelstromFund portfolio, second only to Bitcoin. This announcement comes on the heels of a dramatic price increase in Zcash, which has surged from a low of $137 to over $730 within a month, marking a staggering rise of more than 400%.

ZEC drops after massive rally. Source: CoinMarketCap

As of now, Zcash (ZEC) is trading at approximately $548, reflecting a decline of around 11.8% in the past day, while its market capitalization stands at about $8.9 billion, according to CoinMarketCap. Trading activity in Zcash remains robust, with a remarkable 139% increase in 24-hour trading volume, now at $4.63 billion.

Zcash has a circulating supply of 16.28 million ZEC, with a maximum cap set at 21 million coins. Its fully diluted valuation (FDV) hovers around $11.5 billion. The cryptocurrency utilizes a hybrid model that accommodates both transparent and shielded transactions, making it a more favorable option for those concerned with privacy. Like Bitcoin, Zcash has a capped supply of 21 million coins and employs a proof-of-work (PoW) consensus mechanism.

The Grassroots Movement Behind Zcash's Comeback

Alex Bornstein, the executive director of the Zcash Foundation, shared insights into the recent resurgence of Zcash. He emphasized that this revival is entirely organic, driven by increasing public anxiety concerning government surveillance and the control of personal data. During an appearance on Cointelegraph’s Chain Reaction show, Bornstein highlighted that the renewed enthusiasm about Zcash stems from a strong narrative centered on digital privacy and financial autonomy.

He remarked that the Zcash Foundation—registered as a nonprofit in the United States—had "absolutely nothing to do" with the growing interest in ZEC. "We were surprised to see when these mentions started popping up. Then to see that kind of wave just start to spread and then crest was extraordinary," he noted.

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In conclusion, Zcash is not only gaining traction as a preferred investment among crypto enthusiasts but is also benefiting from a broader conversation about the importance of privacy in the digital age. Keep an eye on this cryptocurrency as it continues to evolve and adapt to the market's demands.