Bitcoin Whales Were Urging Friends to Buy Zcash Before Its Rally to $1,000

Some of Bitcoin's oldest whales spent months privately urging early investor Dan Held to buy Zcash (ZEC) before the token's rally past $1,000, he said in a recent interview.

Held, a former Kraken head of marketing who bought his first Bitcoin in 2012, said the messages came from investors with eight- and nine-figure net worths who have traded Bitcoin since 2013.

Whales Pitch Zcash to a Bitcoin Purist

Held said that over roughly three to six months, these investors pushed him to buy ZEC between $100 and $400. Many funded the trade by trimming a fifth to an eighth of their long term Bitcoin holdings.

Zcash has since crossed $1,000 last week, its first time above that level in nearly a decade, since it was launched. Rising Zcash ETF inflows into Grayscale's ZCSH fund have added to the rally's momentum.

Held said he still views the timing skeptically. He argued that crypto narratives typically form only after an asset has already moved, not before it. That pattern, he said, looks familiar in Zcash's case as well.

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