Summary
- A Bloomberg ETF analyst warned that Zcash (ZEC) could split Bitcoin (BTC)'s political and cultural support base.
- The Timestamp founder said that the possibility of Bitcoin supporters moving to Zcash is unrealistic.
- The Jan3 founder also assessed that the likelihood of Zcash eroding Bitcoin's political influence is low.
A warning has been raised that the privacy coin Zcash (ZEC) could split Bitcoin's (BTC) political and cultural support base.
On the 23rd (local time), Eric Balchunas, a Bloomberg ETF analyst, said on his X, "Zcash feels like a third-party candidate such as Gary Johnson or Jill Stein," adding that "it risks dispersing support for Bitcoin at critical moments."
However, industry figures are distancing themselves from these concerns. Arman Meguerian, founder of Timestamp, said, "I've never seen a Bitcoin maximalist show interest in Zcash," denying the possibility of Bitcoin supporters defecting. He emphasized, "The claim that Bitcoin supporters will move to ZEC is unrealistic."
Samson Mow, founder of Jan3, also rebutted Balchunas's concerns, saying, "Bitcoin maxis just roll their eyes when they see Zcash." He assessed that the likelihood of Zcash eroding Bitcoin's political influence is low and added that the related debate has been overly inflated.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
