Barry Silbert, CEO of cryptocurrency conglomerate Digital Currency Group, said Wednesday that privacy-focused cryptocurrencies are poised to become the next big investment opportunity in the industry.
Bitcoin Not Really ‘Anonymous’
During a conversation with Anthony Pompliano at the Bitcoin Investor Week conference, Silbert said his thesis is that 5-10% of Bitcoin’s (CRYPTO: BTC) market cap would rotate into privacy coins, including Zcash (CRYPTO: ZEC).
Silbert acknowledged that Bitcoin also started as an “anonymous” currency, but then it “lost the plot” due to the rise of on-chain analytics firms.
“Bitcoin, for all its amazing attributes, is likely never going to have any privacy features,” he argued.
Privacy Coins Have 500x Upside Potential, Says Silbert
That doesn’t mean Silbert is bearish on Bitcoin’s long-term potential.
“I am incredibly bullish about Bitcoin as a …