Arthur Hayes has a new favorite coin — and it’s not Bitcoin. The veteran crypto investor recently revealed that Zcash has become one of his biggest holdings outside of Bitcoin. This news has brought fresh attention to a cryptocurrency that many had already written off.
Hayes said that as artificial intelligence, governments, and big tech companies get better at analyzing public blockchain data, the demand for financial privacy will grow. He believes Zcash is built exactly for that purpose. And he’s not alone in thinking this.
Barry Silbert, a well-known figure in crypto investing, compared Zcash to Bitcoin in its early days — specifically around 2013, when BTC was still a niche asset before its first big wave of mainstream adoption. That comparison has struck a chord with some early Bitcoin fans who feel the original cryptocurrency has moved away from its roots.
Arthur on why the Zcash and NEAR integration is the quietly building mechanism that flips NEAR from inflationary to deflationary “Shielded Zcash lets you swap and send any coin, USDT on Tron, Bitcoin, anything, and that transaction will not point back to you. Completely… https://t.co/AOWKNsDRbc pic.twitter.com/tytoAgM5q0 — Laura Shin (@laurashin) May 12, 2026
What’s driving this renewed interest?
According to a Wall Street Journal report, many longtime Bitcoin holders at a 2026 Las Vegas digital currency conference expressed frustration with how traceable and institutionalized Bitcoin has become. Government agencies, ETF issuers, and blockchain surveillance firms can now track on-chain transactions with growing accuracy. For some investors, that level of transparency is a problem.
Zcash was designed to solve it. Launched in 2016 by cryptographer Zooko Wilcox, along with researchers from Johns Hopkins and MIT, the coin uses a technology called zk-SNARKs. This allows users to hide wallet addresses, transaction amounts, and transfer details. Unlike Bitcoin, where all transaction data is public by default, Zcash lets users choose privacy while still allowing transparency when needed.
Growing demand
This renewed interest has shown up in the market. Since the start of May 2026, ZEC rose from around $380 to a high near $615 before pulling back.
The coin has gained more than 30% this month alone and is up nearly 50% over the past 30 days, far outpacing Bitcoin during the same period. At the time of writing, ZEC is trading below $520 after a 5.50% drop in the last 24 hours.
Institutional support is also there. Grayscale Investments continues to offer exposure to Zcash through its investment products. Still, the coin carries significant risk that no amount of celebrity backing can remove.
Featured image from Pexels, chart from TradingView
Frequently Asked Questions
Here is a list of FAQs about Zcash and its potential to be the next Bitcoin written in a natural conversational tone
BeginnerLevel Questions
1 What is Zcash and how is it different from Bitcoin
Zcash is a digital currency like Bitcoin but its main feature is privacy Bitcoin transactions are public for everyone to see on a blockchain Zcash lets you choose to shield your transactions hiding the sender receiver and amount
2 Why are people calling Zcash the next Bitcoin
Investors are excited because privacy is a major missing piece in crypto While Bitcoin is digital gold its not private Some believe Zcash could become the goto private digital cash filling a role Bitcoin cant
3 Is Zcash actually better than Bitcoin
It depends on what you value Zcash offers better privacy features However Bitcoin has a much larger network more users and a longer track record Zcash is more advanced in one specific area but Bitcoin is more established overall
4 Is Zcash legal to use
Yes Zcash is legal in most countries just like Bitcoin However because it offers privacy some governments are wary of it Always check your local laws but generally owning and using it isnt illegal
5 Do I need to be a tech expert to use Zcash
Not really You can buy Zcash on major exchanges like Coinbase or Kraken For basic use it works like any other crypto Using the advanced privacy features requires a little more setup but its getting easier
6 Can I mine Zcash like I mine Bitcoin
You can but its very different Bitcoin mining requires specialized expensive machines Zcash can still be mined with powerful graphics cards though its becoming more competitive
Advanced InvestorLevel Questions
7 How does Zcashs privacy actually work
It uses a technology called zkSNARKs This is a cryptographic proof that allows one party to prove to another that a transaction is valid without revealing any of the details
8 Isnt Zcash risky because it has a founders reward
Yes this is