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Eric Balchunas, Bloomberg’s senior exchange-traded fund (ETF) analyst, has suggested that Zcash
$538.14
might harm Bitcoin’s
$85,942.48
position at an important time.
In a post on X, he compared the situation to “third-party candidate vibes, like Gary Johnson or Jill Stein”. He warned that promoting a separate privacy coin could divide the support Bitcoin currently needs.
However, Arman Meguerian, the founder of Timestamp, disagreed with the idea that Bitcoin supporters are moving toward Zcash. He said, “I don’t know a single Bitcoin maxi that thinks about Zcash at all”.
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What Are Crypto Rollups? ZKSnarks vs Optimistic Rollups (ANIMATED)
Samson Mow, who leads Jan3, shared a similar view. He added that Bitcoin advocates “only look at Zcash to roll our eyes at it”.
Market analyst Rajat Soni also questioned the enthusiasm around Zcash. He described it as an attempt to “find exit liquidity”. He noted that some social media posts falsely claimed that Fidelity analysts predicted Zcash could reach $100,000.
Additionally, Mark Moss, a Bitcoin investor and educator, posted screenshots of messages from marketing firms offering paid ZEC partnerships.
He asked, “Wonder why ZCash is showing up EVERYwhere all of a sudden?”, which implies that its visibility may be the result of organized promotion rather than genuine interest.
Recently, Arthur Hayes, former BitMEX
$32.06K
CEO, shared his thoughts on Bitcoin’s price decline. What did he say? Read the full story.
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