Биткойн против Zcash: кому принадлежит будущее криптовалют? Translation: Bitcoin vs. Zcash: Who Owns the Future of Cryptocurrency?

Amidst the rise in the price of Zcash to $700, an active debate has emerged within the cryptocurrency community between advocates of digital gold and supporters of the privacy coin.

Hunter Horsley, CEO of investment firm Bitwise, commented on X that it would be challenging for proponents of the «only Bitcoin, everything else is a scam» mindset to articulate their views on privacy cryptocurrencies. His post sparked a flurry of responses.

«No, we are completely prepared to label this clearly coordinated Pump & Dump venture coin as a scam,» responded a user known as Bit Paine, highlighting the 1500% rally since October.

Mert Mumtaz, head of Helius and a Zcash supporter, concurred with Horsley, regarding the criticism of privacy coins from the Bitcoin community as conspiracy-driven.

At the time of writing, ZEC is trading around $688, ranking 16th in market capitalization according to CoinGecko. Within the private coin segment, it holds the top position, significantly outpacing its competitors.

Former CEO of BitMEX, Arthur Hayes, recently reported that Zcash has become the second-largest crypto asset in his family office Maelstrom’s portfolio, following Bitcoin.

Previously, he urged holders of the privacy coin to withdraw their assets from centralized exchanges.

As a reminder, analyst Will Owens from Galaxy Digital described Zcash as the «spiritual successor» to digital gold.