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Zcash Keeps Rising as Bitcoin Falls—And This Treasury Firm Just Bought More ZEC

Zcash (ZEC) has seen a remarkable surge in value, increasing by 31% over the past week despite a notable decline in Bitcoin's price, which has dropped to nearly $88,637. Cypherpunk Technologies, a treasury firm backed by Winklevoss Capital, recently acquired an additional 29,869.29 ZEC for $18 million, raising its total holdings to over 233,644 ZEC, now worth more than $146 million. This follows a significant rise in ZEC prices, which have jumped 125% in the last month and more than 15x since early September. Analysts suggest that investors are shifting focus to privacy coins like Zcash amid Bitcoin's increasing scrutiny and mainstream acceptance, emphasizing its appeal as an 'encrypted Bitcoin'.

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