Barry Silbert Predicts Shift in Bitcoin Investments Towards Privacy Cryptocurrencies

Barry Silbert, founder and CEO of Digital Currency Group (DCG), anticipates that 5% to 10% of Bitcoin investments will transition to privacy-focused cryptocurrencies like Zcash in the coming years. According to ChainCatcher, Silbert shared his insights at the Bitcoin Investor Week conference in New York. While Silbert remains optimistic about Bitcoin as a core component of a diversified investment portfolio, he expressed a preference for transformative projects with potential returns of 100 to 1000 times. He highlighted Zcash and Bittenser as projects with the potential for 500-fold growth. Silbert noted that the early narrative of Bitcoin as "anonymous cash" is no longer valid in the era of blockchain analysis firms like Chainalysis and Elliptic. He also expressed skepticism about Bitcoin's ability to achieve any privacy features. It is noteworthy that DCG's subsidiary, Grayscale, offers a Zcash trust fund and is seeking to convert it into an ETF.