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

Bloomberg Senior ETF Analyst Eric Balchunas has warned that Zcash whitethorn adversely interaction Bitcoin astatine this important moment.

In a caller post connected X, Balchunas said Zcash (ZEC) has “third-party campaigner vibes, similar Gary Johnson oregon Jill Stein,” arguing that pushing a abstracted privateness coin risks “splitting the vote” erstwhile Bitcoin (BTC) needs unified governmental and taste support.

Balchunas’s remark comes arsenic the Bitcoin vs Zcash debate intensifies. Arman Meguerian, laminitis and CEO of Timestamp, dismissed the thought that BTC supporters are pivoting to Zcash. “I don't cognize a azygous Bitcoin maxi that thinks astir Zcash astatine all,” helium wrote connected X.

Jan3 laminitis Samson Mow echoed the sentiment, claiming that Bitcoin maxis are “only looking astatine Zcash to rotation our eyes astatine it.”

Eric Balchunas says Zcash has third-party campaigner vibes. Source: Eric Balchunas

Related: The Bitcoin vs Zcash statement intensifies arsenic ZEC reclaims $700 level

Critics impeach Zcash of manufactured hype

The backlash grew sharper arsenic different manufacture personalities accused Zcash advocates of manufacturing hype.

Mark Moss, a Bitcoin-focused task capitalist, seasoned entrepreneur, and educator, precocious posted screenshots of outreach messages from selling agencies offering paid ZEC collaborations. “Wonder wherefore ZCash is showing up EVERYwhere each of a sudden?” helium asked.

Market expert Rajat Soni besides warned that caller excitement astir ZEC looks similar an effort to “find exit liquidity,” pointing to fabricated headlines claiming that Fidelity analysts predicted Zcash reaching $100,000.

Related: Winklevoss twins stake connected Zcash, privateness to combat AI threat

Winklevoss twins backmost Zcash

Nevertheless, not everyone is skeptical of Zcash’s caller resurgence. The Winklevoss twins, founders of Gemini and aboriginal Bitcoin investors, precocious launched Cypherpunk Tech, the archetypal Zcash-focused treasury company.

In an interrogation with Cointelegraph, they described Zcash arsenic “encrypted Bitcoin”, arguing that Bitcoin is champion for storing worth portion Zcash excels successful backstage transactions. They presumption Zcash arsenic complementary, not competitive.

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