Zcash To Be $60K By 2025 According to Grayscale Investments Thesis
Asset manager Grayscale Investments is predicting digital currency Zcash to skyrocket to $60,000 in the next seven years.
US asset management firm and a unit of Digital Currency Group, Grayscale Investments, has published an investment report in which it says that privacy-focused cryptocurrency Zcash would be worth over $60,000 seven years from now, from $400 in 2018, or a 150-fold jump.
The thesis’ author Matthew Beck, who is an associate at Grayscale, assumes that the currency will represent a total of 10% of all offshore wealth, but adds that even if it reaches 1% of the total, it would still be worth $6,000 by 2025.
Beck writes in all caps that the future Zcash’s prices shown in the report are purely “hypothetical and specifically assume that the price will increase” adding that there is no “representation being made that any results will or are likely to achieve similar prices to those.”
The asset manager is a sponsor of quite a few cryptocurrency investment trusts and funds that provide investors stakes in digital assets. Grayscale Investments doesn’t just feature Zcash but also Bitcoin and Ethereum Classic.
Grayscale’s goal is to provide access to certain crypto assets to investors and people with an income of over $200,000 per year in the past two years, or individuals with a net worth over $1 million.
In its paper, the manager outlines the reasons why Zcash is the “latest conviction investment opportunity.” Grayscale believes that Zcash is “similar to precious metals, Bitcoin, and Ethereum Classic, making it an inflation hedge over long-term investment horizons.”
Grayscale noted that Zcash pioneered a cutting-edge privacy technology enabling everyone in its network to verify financial transactions and masking origin, destination, and amount details. The coin competes with Monero for leadership in the anonymous coin market.