Arthur Hayes, co-founder of BitMEX, revealed that Zcash (ZEC) is now the second largest holding at his family office Maelstrom, behind only Bitcoin (BTC).
“Due to the rapid price rise, ZEC is now the second largest *LIQUID* in MaelstromFund’s portfolio behind BTC.” books In a Friday post on X.
The revelation comes amid a sharp rally in Zcash, which rose from a low of $137 to over $730 last month, representing an increase of more than 400%.
Other privacy coins also posted strong weekly gains, with Dash (DASH), Decred (DCR), and ZKsync (ZK) posting gains of more than 100%. However, major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) remained range-bound amid broader market uncertainty.
Related to: Zcash is close to the top 10 cryptocurrencies with market capitalization exceeding $10.6 billion
Zcash drops 12% after massive rally
At the time of writing, ZEC is trading at $548, down about 11.8% over the past 24 hours, with a market cap of $8.9 billion, according to CoinMarketCap. Trading activity remains high, with 24-hour trading volume up 139% to $4.63 billion.
The circulating supply of Zcash is 16.28 million ZEC, with a maximum supply of 21 million. The token’s fully diluted value (FDV) is approximately $11.5 billion.
Zcash’s hybrid model, which supports transparent and protected transactions, has made it a more acceptable option. Like Bitcoin, it has a fixed supply of 21 million coins and is secured through a Proof of Work (PoW) mechanism.
Related to: The truth behind the privacy-focused Zcash protocol’s return in 2025
The return of Zcash is driven by the grassroots privacy movement
Alex Borenstein, CEO of the Zcash Foundation, said Zcash’s recent comeback has been entirely organic, fueled by growing public concerns about government surveillance and data control. Speaking on Cointelegraph’s Chain Reaction podcast, Bornstein noted that the renewed interest reflects a “strong narrative” around digital privacy and financial independence.
Bornstein explained that the ZCash Foundation, a US-registered non-profit, had “absolutely nothing to do” with the wave of renewed interest surrounding ZCash. “We were surprised when these signals started to appear. Then we saw this kind of wave start to spread and then the peak was unusual,” he said.
magazine: Bitcoin OG Kyle Chassé is one hit away from YouTube Permaban
The post Arthur Hayes Says Zcash Is Now His Second-Largest Holding After Bitcoin first appeared on Investorempires.com.
