Barry Silbert Picks 'Zcash' Next After Bitcoin... 'The Era of Privacy Coins is Coming'

▲ Zcash (ZEC)/ChatGPT generated image

Barry Silbert, founder and CEO of Digital Currency Group (DCG), declared that the cryptocurrency market has entered the era of privacy. As privacy-focused cryptocurrency Zcash (ZEC) gained strong upward momentum, attracting the attention of Wall Street institutional investors, Silbert claimed that Zcash is following the past bull market trend of Bitcoin (Bitcoin, BTC).

According to U.Today on May 25 (local time), Silbert announced via X (formerly Twitter) that “the era of privacy in cryptocurrency has officially begun.” U.Today reported that Zcash is leading the privacy coin trend after its recent sharp surge.

Silbert, a long-time advocate of financial privacy, believes that Zcash is currently following one of Bitcoin's historical bull runs. He asserted that Zcash is executing “the Bitcoin playbook from 2013 to 2014.”

Silbert explained that there has been a shift in how the market understands digital privacy. In the early cryptocurrency market, many investors mistakenly perceived Bitcoin transactions as completely anonymous, but powerful blockchain analytics firms have now proven that Bitcoin's public ledger can be easily tracked.

Silbert stated, “In 2015, we didn't know there was a $2 trillion demand for a global, decentralized digital store of value like Bitcoin. In 2015, we also thought Bitcoin was generally a private way to store and transfer value globally. Zcash will benefit from a situation where we don't know better,” he said.

Zcash implements zk-SNARKs, a zero-knowledge proof technology, enabling shielded addresses that ensure complete privacy. U.Today reported that Zcash, once on the periphery of the crypto industry, recently gained attention through a Wall Street Journal report, which stated that Zcash surged by 1,140% over the past year.

Silbert's strong optimism aligns with Digital Currency Group's position. According to U.Today, Digital Currency Group included Zcash as one of its major holdings this year. A mining company supported by Digital Currency Group recently launched an institutional-grade Zcash mining pool, and the service has seen significant demand. Silbert stated that this trend proves “the financial privacy ecosystem is growing.”

Tyler Winklevoss and Cameron Winklevoss also invested $50 million in a digital asset treasury company to accumulate Zcash. Zcash has emerged as a new key theme in the cryptocurrency market amidst Wall Street's interest, institutional capital inflow, and the spread of privacy discourse.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*