Is there a real chance for Zcash to surpass Bitcoin’s current price in the future? Well, a Grayscale Investment analyst certainly believes there is. In fact, Mathew Beck (a Grayscale investment researcher) has published a 20-page investment thesis stating that the cryptocurrency could skyrocket all the way to $60,000 per ZEC in a matter of 7 years.
Bold as the prediction may seem, Beck mentions that the “added pressure on tax evasion and increased competition” in the offshore banking services has led to a decline in the offshore banking sector. In his thesis, he believes that it’s practical for the privacy-centric Zcash to fill the gap left behind by a struggling offshore banking sector.
Is Zcash the best Bitcoin Alternative?
Granted, Zcash is not new to public attention especially concerning its privacy tech. In fact, the cryptocurrency was even lauded by Edward Snowden (the controversial whistleblower and former US intelligence contractor who is known for leaking evidence of spying by the NSA) who mentioned Zcash as “the most interesting Bitcoin alternative…”
Furthermore, Matthew Beck’s calculation of how Zcash could rise in price, even if it captures only ten percent of the wealth in offshore accounts, presents a rather eye-opening perspective on the cryptocurrency.
The privacy-enhanced features that ZEC offers perhaps make it even more resilient as a store-of-value than BTC since selective disclosure reduces susceptibility to government intervention…
Basically, he believes that ZEC is set to be the “Swiss bank account in your pocket” with a real chance of being “the first globally accessible “offshore” investment opportunity”.
The Race for Privacy
Although the thesis predicts a high ZEC future price assessment based on its privacy tech, there is stiff competition for Zcash as numerous other altcoins are also seeking to be considered the number one privacy and anonymity coin.
One of its biggest competitors is Monero, with a market cap that is three times bigger than that of Zcash. It is quickly grabbing the attention of darknet marketplaces such as Oasis and Alphabay.
ZEC’s Privacy-Centric Tech
Perhaps the only aspect of ZEC that gives it an edge over Monero is the fact that it uses a zero-knowledge proof protocol that greatly enhances encryption in an effort to obscure both the sender and receiver of ZEC. On the other hand, Monero uses a fake address generator also known as a TOR, which hides identities and keeps transactions anonymous. But could this be enough to position it as the number one privacy and anonymity cryptocurrency of the future?
Tell us what you think about the prediction for the price of Zcash in 2025? Is it reasonable? Share your thoughts in the comments section.