Zcash (CRYPTO: ZEC) is up 30% in the last 24 hours as Multicoin Capital disclosed a significant position and the privacy coin’s quantum resistance narrative gains traction.

Multicoin Reverses 2019 Stance On Privacy Coins

Multicoin Capital built a significant Zcash position, Co-Founder and Managing Partner Tushar Jain revealed at Consensus Miami. 

The disclosure marks a sharp reversal from Multicoin’s 2019 essay arguing that “privacy is a feature of valuable cryptocurrencies, not a product offering in and of itself.”

Jain explained that Bitcoin can withstand protocol-level freezes, but public ownership still leaves holders exposed if a government, creditor, or other actor can connect…

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