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 largest crypto assets outside of Bitcoin, a revelation that has brought new attention to a cryptocurrency that many had written off.
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Hayes said that as artificial intelligence, governments and big tech companies gain more capacity to analyze public blockchain data, the demand for financial privacy will rise. Zcashaccording to him, it was designed exactly for that purpose.
His vision does not stand alone. Barry Silbert, a well-known personality in crypto investment circles, described Zcash as resembling Bitcoin during its infancy – specifically around 2013, when BTC was still a fringe asset before the first big wave of mainstream adoption.
That comparison has resonated with a group of early ones Bitcoin enthusiasts who feel that the original crypto has drifted from its roots.
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“With Shielded Zcash you can exchange and send any coin, USDT on Tron, Bitcoin, whatever, and that transaction won’t point back to you. Totally… https://t.co/AOWKNsDRbc pic.twitter.com/tytoAgM5q0
— Laura Shin (@laurashin) May 12, 2026
What drives the renewed interest?
Based on a Wall Street Journal reporta large number of longtime Bitcoin holders present at a digital currency conference in Las Vegas in 2026 expressed dismay at how trackable and institutionalized Bitcoin has become.
Government agencies, exchange-traded fund issuers, and blockchain oversight companies can now monitor on-chain transactions with increasing precision. For some investors, that level of transparency is a problem.
Zcash was built to solve this. The coin was launched in 2016 by cryptographer Zooko Wilcox along with researchers from Johns Hopkins and MIT and uses a technology called zk-SNARKs which allows users to shield wallet addresses, transaction amounts, and transfer details.
Unlike Bitcoin, where all transaction data is public by default, Zcash gives users the ability to transact privately, while still allowing transparency when needed.
Strengthening demand
The renewed interest is visible in the market. Since early May 2026, ZEC climbed from around $380 to a high of almost $615 before retreating.
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The coin has gained over 30% this month alone and is up almost 50% in the last 30 days, significantly outperforming Bitcoin over the same period. At the time of writing, ZEC is trading below $520, having dropped 5.50% in the last 24 hours.
Institutional support is available. Grayscale Investments continues to bid exposure to Zcash through its investment products. Yet the coin still carries significant risk that no amount of celebrity support can eliminate.
Featured image from Pexels, chart from TradingView