So here's the thing, while everyone is busy discussing Bitcoin and Ethereum, there's one asset that I think is quite undervalued in the market. Zcash. Not long ago, I read a discussion by Will McEvoy, Chief Investment Officer at Cypherpunk Holdings, who has an interesting argument about Zcash's potential price.

He says Zcash could reach $4,000 if it manages to capture 2% of Bitcoin's total value. Sounds crazy? Let's look at the math. If Zcash convinces a small portion of Bitcoin holders that they need a truly private version of the digital asset, then ZEC could trade at nearly $2,000. That's just from Bitcoin alone.

Now imagine if it expands into other segments—gold owners, wealth investors storing money in offshore accounts, art collectors. McEvoy says in that scenario, Zcash could reach $3,000 or even $4,000. And in the long term? Its potential is much higher.

But wait, this isn't a target for retail traders. The real target is the global capital pool already operating outside the traditional financial system. They need a digital home, and that's the value proposition being built.

Now the question: why can't Bitcoin itself offer the same privacy? This is what's interesting. Bitcoin is fundamentally pseudonymous, not anonymous. In the AI era now, that difference is crucial. McEvoy explains that AI is already very powerful in connecting various data sources. A data leak about your identity, a social media post, and boom—Bitcoin's blockchain anonymity can be instantly compromised.

It's also frustrating to see people claiming gold provides privacy. Gold is indeed private in a limited sense, but it can't be transferred silently. When central banks send gold between countries, they load pallets onto planes. Everyone sees it. Zcash? Transfer value across borders without leaving a public trace. That's a different level.

Of course, there are regulatory risks. The SEC did close an investigation into Zcash earlier this year, which reduced one of the biggest clouds over this project. But McEvoy is honest that regulatory risks haven't fully disappeared. Future SEC leadership could have a different view on privacy coins, and clear regulation in the US still doesn't exist.

With Zcash's current price at around $357, if this thesis proves true, there's quite a significant room for movement. Of course, this isn't financial advice, but it's worth monitoring if you're interested in privacy narratives and alternative stores of value.