Zcash (CRYPTO: ZEC) is up 30% in the last 24 hours as Multicoin Capital disclosed a significant position and the privacy coin’s quantum resistance narrative gains traction.
Multicoin Reverses 2019 Stance On Privacy Coins
Multicoin Capital built a significant Zcash position, Co-Founder and Managing Partner Tushar Jain revealed at Consensus Miami.
The disclosure marks a sharp reversal from Multicoin’s 2019 essay arguing that “privacy is a feature of valuable cryptocurrencies, not a product offering in and of itself.”
Jain explained that Bitcoin can withstand protocol-level freezes, but public ownership still leaves holders exposed if a government, creditor, or other actor can connect coins to a person.
Tokens with built-in privacy features like ZEC aim to mitigate that risk by obscuring transaction details and user identities.
The firm previously argued users should not have to sell Bitcoin (CRYPTO: BTC) or Ethereum (CRYPTO:
