Cypherpunk Technologies CIO Will McEvoy is making a direct argument for Zcash: the market is undervaluing ZEC because there is still no clear way to price privacy. In a thread published Tuesday, McEvoy argued that this discount is especially notable as AI-driven surveillance grows and the demand for financial privacy becomes easier to justify.
McEvoy’s core claim is straightforward: “Zcash is the most mispriced asset in crypto because privacy is the most mispriced asset in society,” he wrote. “The market has no real framework for valuing privacy, so it gets ignored. The upside is asymmetric nonetheless.”
He built his case around relative size. At the time of his post, McEvoy noted ZEC was at $263 with a $4.4 billion market cap. He compared this to Bitcoin at $1.45 trillion, gold at $34.8 trillion, offshore wealth at $11.3 trillion, stablecoins at $312 billion, and Monero at $6.8 billion. The point was about scale: in McEvoy’s view, Zcash remains “just a rounding error” in every market it could potentially touch.
That idea runs through each comparison. Against Bitcoin, he argued Zcash is still small enough that even a slight re-rating would mean a large move. If ZEC reached 0.5% of Bitcoin’s value, it would imply a price of $446—about 1.7 times higher. At 1%, it would be $891; at 2%, $1,782; and at 5%, $4,456. He summarized it simply: “Zcash is encrypted Bitcoin.”
The offshore wealth comparison is more pointed. McEvoy described privacy not as a niche preference, but as something people have historically paid for at scale. “There is $11.3 trillion in offshore wealth,” he wrote. “People pay a premium for privacy. They always have. They always will.” He then argued that if Zcash captured 0.1% of that market, the implied price would be $680. At 0.5%, it would be $3,402, and at 1%, $6,804. “Zcash is a Swiss bank account in your pocket,” he added.
His gold comparison extends the same logic into a traditional store-of-value framework. “Gold is private. You can hold it. No one knows how much you have,” McEvoy wrote. “Zcash has the same properties but it’s digital, portable, and programmable.” On that basis, he projected ZEC at $1,048 if it reached 0.05% of gold’s value, $2,095 at 0.1%, and $10,477 at 0.5%.
McEvoy also positioned Zcash as an answer to the transparency built into much of crypto’s existing payment infrastructure. “Stablecoin transactions are tracked. Wallets are surveilled,” he wrote, before outlining price scenarios if ZEC reached 5%, 10%, or 25% of the stablecoin market—implying prices of $939, $1,877, and $4,692, respectively.
He also compared Zcash to Monero, arguing that Zcash offers “stronger cryptography, optional transparency for compliance, and better scalability.” A simple relative-value table showed parity with Monero would imply $410 for ZEC, double Monero’s value would imply $819, and five times Monero’s value would imply $2,047. “The privacy coin throne is not yet claimed,” he wrote.
His closing point tied the argument to a broader technological shift. “Artificial intelligence is the attack. Zcash is the defense,” McEvoy said. “AI decodes all the data. Zcash encrypts all the data. AI is the surveillance state. Zcash is the sovereign individual. As AI advances, privacy becomes more valuable, not less.”
At press time, ZEC traded at $244.77.
Frequently Asked Questions
Of course Here is a list of FAQs about the statement that Zcash is the most undervalued cryptocurrency framed in a natural conversational tone
Beginner General Questions
1 What is Zcash in simple terms
Zcash is a cryptocurrency like Bitcoin but with a key difference it offers optional privacy While all transactions are recorded on a public blockchain Zcash users can choose to shield the sender receiver and amount involved making those details completely private
2 Who said Zcash is the most undervalued and why should I care
The statement was made by the Chief Investment Officer of Cypherpunk Holdings a publiclytraded company that invests in privacy technologies As an expert whose job is to find valuable crypto assets others might overlook his opinion carries weight for investors interested in the privacy sector
3 What does undervalued mean in this context
It means the CIO believes the current market price of Zcash does not fully reflect its potential longterm value technological advantages or importance in the cryptocurrency ecosystem He thinks its priced lower than what its truly worth
4 Whats the main benefit of Zcashs privacy feature
It allows for confidential financial transactions This is useful for personal financial privacy protecting commercial trade secrets or simply exercising your right to transact without your entire financial history being publicly visible to anyone
5 If its private how do we know its not used for illegal activities
Zcash is a tool and like any tool it can be used for both legal and illegal purposes Its protocol includes features for regulated exchanges to comply with laws Furthermore many believe financial privacy is a fundamental right for lawabiding citizens not just a feature for criminals
Advanced InvestmentFocused Questions
6 What specific reasons might make Zcash undervalued
Analysts often cite a Its superior battletested privacy technology b A potential surge in demand for financial privacy tools c Its optional privacy model which is more palatable for eventual regulation and d That its market capitalization is small compared to other major cryptocurrencies with less unique features
7 What are the biggest challenges or risks for Zcash