Zcash extended one of the strongest recent moves in the large-cap segment, 
setting a new year-to-date high of $590 after rallying more than 80% in six 
days. The move came as Multicoin Capital co-founder Tushar Jain disclosed that 
the firm has built a “significant position” in ZEC since February, framing the 
trade as a bet on renewed demand for private, seizure-resistant assets. The 
disclosure added a high-profile institutional voice to a rally that had 
already pushed ZEC through key technical levels. Crypto analyst Cheds Trading 
posted a ZEC chart and described the move as “Strong continuation,” 
highlighting a breakout structure after ZEC reclaimed a major resistance area 
on the daily chart. Multicoin Frames ZEC As A Privacy Trade Jain’s thesis 
centered less on short-term market structure and more on the role of privacy 
assets in a changing political environment. In a thread on X, he said 
Multicoin had accumulated a sizable ZEC position over recent months and argued 
that Zcash represents a return to the original privacy-oriented ideals of 
crypto. Related Reading: Zcash Breaks Out With 34% Surge—Is $440 The Next 
Target? “Multicoin has built a significant position in $ZEC since February,” 
Jain wrote. “Zcash is a return to the cypherpunk ideals crypto was founded 
on.” He then connected the investment case to concerns around wealth taxes and 
asset seizure. Jain pointed to proposed policy developments in California as a 
warning sign and argued that, if governments become more aggressive in 
targeting private wealth, demand could increase for assets designed to protect 
financial confidentiality. “California’s proposed wealth seizures are a 
warning,” Jain wrote. “As the political trend to seize private wealth 
continues to grow, people and institutions will increasingly seek private 
assets to protect themselves.” The argument is notable because it 
distinguishes between censorship resistance and financial privacy. Jain 
acknowledged Bitcoin’s core strength as an asset that cannot be easily frozen 
or blocked at the protocol level, but argued that transparent holdings still 
create a vulnerability if governments can identify owners and target visible 
balances. Related Reading: Zcash Is Crypto’s Most Mispriced Asset, Cypherpunk 
CIO Says “Bitcoin is censorship-resistant, no one can freeze your BTC or stop 
you from using it,” he wrote. “But that doesn’t stop the state from seizing 
known holdings through wealth taxes.” ZEC Breakout Draws Technical Attention 
On Wednesday, ZEC climbed to $549, marking a new YTD high, after a six-day 
surge of 66%. The below daily Binance chart shows ZEC moving decisively above 
a highlighted resistance zone, with price extending toward the upper range 
after a strong green daily candle. Cheds’ “Strong continuation” comment 
captured the technical read from momentum-focused traders: ZEC had not merely 
bounced from a local base, but appeared to have broken above a prior supply 
area that had capped earlier advances. That technical backdrop matters because 
ZEC has historically been a high-beta asset during privacy-coin rotations. 
When it moves, it often does so quickly. In this case, the price action was 
reinforced by a clear narrative catalyst: a known crypto investment firm 
publicly backing the asset as an expression of the privacy thesis. Jain’s 
final point was the clearest expression of Multicoin’s investment logic. He 
argued that demand for private, censorship- and seizure-resistant assets is 
not theoretical but increasingly practical. “We believe that truly private, 
censorship and seizure resistant assets have clear product-market fit and 
demand is accelerating,” Jain wrote. “We believe $ZEC is the cleanest way to 
express this thesis in public markets.” At press time, ZEC traded at $581. 
Featured image created with DALL.E, chart from TradingView.com

Zcash Hits New YTD High As Multicoin Discloses ZEC Bet

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Zcash Hits New YTD High As Multicoin Discloses ZEC Bet

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