Zcash risks ‘splitting the vote’ against Bitcoin, Bloomberg ETF analyst warns

Bloomberg Senior ETF Analyst Eric Balchunas has warned that Zcash may adversely impact Bitcoin at this crucial moment.

In a recent post on X, Balchunas said Zcash (ZEC) has “third-party candidate vibes, like Gary Johnson or Jill Stein,” arguing that pushing a separate privacy coin risks “splitting the vote” when Bitcoin (BTC) needs unified political and cultural support.

Balchunas’s comment comes as the Bitcoin vs Zcash debate intensifies. Arman Meguerian, founder and CEO of Timestamp, dismissed the idea that BTC supporters are pivoting to Zcash. “I don’t know a single Bitcoin maxi that thinks about Zcash at all,” he wrote on X.

Jan3 founder Samson Mow echoed the sentiment, claiming that Bitcoin maxis are “only looking at Zcash to roll our eyes at it.”

Related: The Bitcoin vs Zcash debate intensifies as ZEC reclaims $700 level

Critics accuse Zcash of manufactured hype

The backlash grew sharper as other industry personalities accused Zcash advocates of manufacturing hype.

Mark Moss, a Bitcoin-focused venture capitalist, seasoned entrepreneur, and educator, recently posted screenshots of outreach messages from marketing agencies offering paid ZEC collaborations. “Wonder why ZCash is showing up EVERYwhere all of a sudden?” he asked.

Market analyst Rajat Soni also warned that recent excitement around ZEC looks like an attempt to “find exit liquidity,” pointing to fabricated headlines claiming that Fidelity analysts predicted Zcash reaching $100,000.

Related: Winklevoss twins bet on Zcash, privacy to combat AI threat

Winklevoss twins back Zcash

Nevertheless, not everyone is skeptical of Zcash’s recent resurgence. The Winklevoss twins, founders of Gemini and early Bitcoin investors, recently launched Cypherpunk Tech, the first Zcash-focused treasury company.

In an interview with Cointelegraph, they described Zcash as “encrypted Bitcoin”, arguing that Bitcoin is best for storing value while Zcash excels in private transactions. They view Zcash as complementary, not competitive.

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