Bloomberg Senior ETF Analyst Eric Balchunas has warned that Zcash could adversely affect Bitcoin at this significant second.
In a current post on X, Balchunas mentioned Zcash (ZEC) has “third-party candidate vibes, like Gary Johnson or Jill Stein,” arguing that pushing a separate privateness coin dangers “splitting the vote” when Bitcoin (BTC) wants unified political and cultural help.
Balchunas’s remark comes because the Bitcoin vs Zcash debate intensifies. Arman Meguerian, founder and CEO of Timestamp, dismissed the concept BTC supporters are pivoting to Zcash. “I do not know a single Bitcoin maxi that thinks about Zcash in any respect,” he wrote on X.
Jan3 founder Samson Mow echoed the sentiment, claiming that Bitcoin maxis are “solely Zcash to roll our eyes at it.”
Associated: The Bitcoin vs Zcash debate intensifies as ZEC reclaims $700 level
Critics accuse Zcash of manufactured hype
The backlash grew sharper as different business personalities accused Zcash advocates of producing hype.
Mark Moss, a Bitcoin-focused enterprise capitalist, seasoned entrepreneur, and educator, lately posted screenshots of outreach messages from advertising and marketing companies providing paid ZEC collaborations. “Surprise why ZCash is exhibiting up EVERYwhere swiftly?” he asked.
Market analyst Rajat Soni additionally warned that current pleasure round ZEC appears to be like like an try and “discover exit liquidity,” pointing to fabricated headlines claiming that Constancy analysts predicted Zcash reaching $100,000.
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Winklevoss twins again Zcash
However, not everyone seems to be skeptical of Zcash’s current resurgence. The Winklevoss twins, founders of Gemini and early Bitcoin buyers, lately launched Cypherpunk Tech, the primary Zcash-focused treasury firm.
In an interview with Cointelegraph, they described Zcash as “encrypted Bitcoin”, arguing that Bitcoin is finest for storing worth whereas Zcash excels in non-public transactions. They view Zcash as complementary, not aggressive.
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