Zcash price jumped 40% after Multicoin Capital disclosed a significant ZEC▼$471.11 position and framed it as a hedge against wealth seizures.
The privacy-focused cryptocurrency Zcash sees its price soaring in a moment up 40% to around $590, making it among top daily gainers, per data from CoinGecko.
The surge comes shortly after Multicoin Capital, the crypto investment firm behind several major token bets, revealed it has built a significant ZEC position since February.
The firm’s co-founder and managing partner Tushar Jain framed the trade in a May 5 thread on X as a return to the “cypherpunk ideals crypto was founded on.”
He argued that Bitcoin is censorship-resistant because “no one can freeze your BTC▼$64,082.00 or stop you from using it,” but known Bitcoin holdings can still become a target if governments know who owns what. Jain explained:
“We believe that truly private, censorship and seizure resistant assets have clear product-market fit and demand is accelerating. We believe ZEC is the cleanest way to express this thesis in public markets.”
Jain was also referring to California’s proposed 2026 Billionaire Tax Act, a still-pending ballot initiative backed by SEIU-United Healthcare Workers West.
- The proposal would put a one-time 5% tax on California billionaires’ net worth if voters approve it in November, which is why he framed it as a “warning” sign for people worried about governments targeting accumulated wealth.
Read also: Zcash Price Prediction 2026: How High Can ZEC Go?
Zcash Price Also Squeezed by Miner Supply
The timing also lines up with a separate story that started building around Zcash mining hardware.
Bitmain’s Zcash-focused Antminer Z15 Pro is now shown as sold out on the company’s official product page, with shipping listed for September 2026. That doesn’t mean every ZEC miner is gone everywhere, but it does suggest official new supply isn’t exactly easy to grab right now.
Foundry, one of the largest crypto mining infrastructure firms, also launched an institutional-grade Zcash mining pool in April. The firm said the pool reached about 30% of the Zcash network hashrate, with multiple institutional Zcash miners connected.
Read more: Zcash Dodges $6.2M Vulnerability After AI-Backed Bug Discovery
