Multicoin Capital built a large position in Zcash (ZEC), according to co-founder and managing partner Tushar Jain during Consensus Miami. The executive linked the purchase to the theory that private stores of value will become increasingly relevant as finance migrates to the blockchain.
Jain noted that, while Bitcoin can resist freezes at the protocol level, public ownership exposes holders when a government, creditor or other actor manages to link the coins to a person. Tokens with built-in privacy, such as ZEC, seek to solve that problem by concealing transaction details and user identities.
This statement represents a shift from the position Multicoin held in a 2019 essay, where it argued that privacy was a feature of valuable cryptocurrencies, not a product in itself. Since then, ZEC has accumulated over 1,500% growth in value and trades near $570.
The panel in which Jain participated also addressed privacy as a market structure problem. Vibhu Norby, of the Solana Foundation, mentioned that developers are working on privacy solutions compatible with DeFi composability, while Zenrock has already recorded over $15 million in volume with its wrapped ZEC product on Solana.
Source: https://consensus.coindesk.com/agenda/speaker/-tushar-jain
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