Another Controversial Statement from Arthur Hayes: “This Altcoin Could Reach Up to 20 Percent of Bitcoin’s Market Value”
Arthur Hayes, co-founder of BitMEX and CIO of Maelstrom Fund, expressed his views on Zcash (ZEC), describing it as 'Bitcoin with full privacy' and predicting it could reach 10%-20% of Bitcoin's value in the current market cycle. Zcash, known for its Zero-Knowledge Proof (ZKP) technology, is a prominent privacy-focused cryptocurrency. Hayes's comments come amid rising interest in privacy crypto assets. ZEC's price has recently risen by 7.35% to $514.09 but remains 91% below its all-time high of $5,941.80 from October 2016. Hayes himself was previously penalized for market manipulation and later pardoned by Donald Trump.
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Privacy
Arthur Hayes and His Views on Zcash
Arthur Hayes, a well-known figure in the cryptocurrency industry and co-founder of BitMEX and CIO of Maelstrom Fund, shared insightful assessments of Zcash (ZEC). Hayes expressed his belief that Zcash could reach 10% to 20% of Bitcoin's value during the current market cycle.
Zcash: Bitcoin with Full Privacy
During an interview, Hayes described Zcash as “Bitcoin with full privacy.” He stated:
“I don't think Zcash will surpass Bitcoin in value, but if you believe in the technical advancements and the cryptography used, it's nice to have a Bitcoin that offers complete privacy. That's why I'm holding onto Zcash quite a bit.”
Hayes’s Background and Controversy
It is worth noting that Arthur Hayes was previously punished by the US for market manipulation and was later pardoned by Donald Trump. Despite his legal troubles, Hayes remains a prominent voice within the cryptocurrency space.
Zcash and Renewed Interest in Privacy Cryptocurrencies
Hayes's comments coincide with renewed interest in privacy-focused crypto assets. Zcash, renowned for its ability to obscure user transactions through Zero-Knowledge Proof (ZKP) technology, has long been considered one of the strongest privacy projects in the cryptocurrency industry.
Current Market Performance of Zcash
According to market data, the price of ZEC has risen 7.35% in the last 24 hours, reaching $514.09. However, the asset remains 91% below its all-time high of $5,941.80, recorded on October 29, 2016.
Disclaimer
This is not investment advice.