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Thursday, June 11
Cryptocurrency & Free Speech Finance

Arthur Hayes says Zcash has become his family office’s second-largest holding after Bitcoin

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Arthur Hayes says Zcash has become his family office’s second-largest holding after Bitcoin

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BitMEX co-founder Arthur Hayes has revealed that Zcash (ZEC) is now the second-largest holding in his family office Maelstrom, trailing only Bitcoin (BTC).

“Due to the rapid ascent in price, ZEC is now the 2nd largest *LIQUID* holding in MaelstromFund portfolio behind BTC,” he wrote in a Friday post on X.

The disclosure comes amid a sharp rally in Zcash, which has climbed from a low of $137 to over $730 in the past month, representing an increase of more than 400%.  

Other privacy coins have also posted strong weekly gains, with Dash (DASH), Decred (DCR) and ZKsync (ZK) all gaining more than 100%. However, major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) have remained range-bound amid broader market uncertainty.

Related: Zcash knocking at door of top 10 cryptos as market cap smashes $10.6B

Zcash drops 12% after massive rally

At the time of writing, ZEC trades at $548, down about 11.8% in the past 24 hours, with a market capitalization of $8.9 billion, according to CoinMarketCap. Trading activity remains elevated, with 24-hour volume up 139% to $4.63 billion.

ZEC drops after massive rally. Source: CoinMarketCap

Zcash’s circulating supply stands at 16.28 million ZEC, with a maximum supply cap of 21 million. The token’s fully diluted valuation (FDV) is around $11.5 billion.

Zcash’s hybrid model, which supports both transparent and shielded transactions, has made it a more palatable option. Like Bitcoin, it has a fixed supply of 21 million coins and is secured by a proof-of-work (PoW) mechanism.

Related: Truth behind comeback of privacy-focused protocol Zcash in 2025

Zcash’s comeback driven by grassroots privacy movement

Zcash Foundation executive director Alex Bornstein said the recent resurgence of Zcash has been entirely organic, fueled by rising public concern over government surveillance and data control. Speaking on Cointelegraph’s Chain Reaction show, Bornstein noted that the renewed interest reflects a “powerful narrative” around digital privacy and financial autonomy.