Arthur Hayes, co-founder of BitMEX, announced via X that Zcash is now the second-largest holding in his family office, Maelstrom, boosting its profile in the evolving crypto landscape.
The announcement elevated Zcashโs market position, leading to a price increase and underscoring the growing significance of privacy-focused cryptocurrencies amidst intensified financial oversight.
Arthur Hayes Elevates Zcash in Investment Portfolio
Arthur Hayes, former CEO of BitMEX, disclosed that Zcash (ZEC) has become the second-largest holding in his family office, Maelstrom. His support for privacy coins reflects an evolution in the crypto market. โZcash (ZEC) has become the second-largest crypto asset in my family office Maelstromโs portfolio, behind only Bitcoin,โ Hayes remarked.
Arthur Hayes announced on X (formerly Twitter) that Zcash is now a significant part of Maelstromโs portfolio. He cites the rising importance of privacy coins as financial surveillance intensifies globally.
Zcash Soars to $750 as Market Responds
Zcashโs value surged, reaching $750, its highest since 2018. This reaction positions Zcash back among the top 20 cryptocurrencies, attracting increased market interest. Hayesโ confidence underscores the coinโs potential.
Zcashโs increased valuation led to enhanced market cap, reflecting prior trends seen with privacy coins after endorsements. Regulatory updates remain stable, maintaining focus on Zcashโs privacy features amid global surveillance concerns.
Arthur Hayesโ Endorsement Echoes Past Bitcoin Support
Historical patterns show privacy coins like Monero surge post endorsements. Hayesโ move parallels past Bitcoin advocacy, often correlated with price increases and institutional interest. Expert opinion indicates Zcashโs trajectory could mirror historical examples where privacy coins gained traction.
Arthur Hayesโ endorsement might signal broader market legitimization for Zcash, increasing attention on privacy in financial systems.
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