{"id":18277,"date":"2025-11-23T15:58:33","date_gmt":"2025-11-23T14:58:33","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=18277"},"modified":"2025-11-23T15:58:33","modified_gmt":"2025-11-23T14:58:33","slug":"battle-of-cryptos-bitcoin-vs-zcash-and-the-latest-on-interest-rates","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/11\/23\/battle-of-cryptos-bitcoin-vs-zcash-and-the-latest-on-interest-rates\/","title":{"rendered":"“Battle of Cryptos: Bitcoin vs Zcash and the Latest on Interest Rates”"},"content":{"rendered":"\n
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Today in the crypto world: Bloomberg’s Eric Balchunas cautions that Zcash might weaken Bitcoin’s political and cultural backing. Meanwhile, BlackRock\u2019s clients aren’t considering Bitcoin’s potential for global payments in their investment strategies. Also, Peter Schiff warns that veteran investors selling off to ‘weak’ hands could lead to more drastic downturns in the future.<\/p>\n

Zcash Could Cause Confusion for Bitcoin, Says Bloomberg’s Eric Balchunas<\/h2>\n

Bloomberg’s Senior ETF Analyst, Eric Balchunas, has raised a red flag about Zcash<\/a> potentially hurting Bitcoin at this pivotal time.<\/p>\n

In a recent\u00a0tweet<\/a>, Balchunas likened Zcash (ZEC) to third-party candidates like Gary Johnson or Jill Stein, suggesting that introducing a separate privacy coin could \u201csplit the vote\u201d just when Bitcoin (BTC) needs strong, united support.<\/p>\n

His remarks come as the\u00a0debate between Bitcoin and Zcash heats up<\/a>. Arman Meguerian, the CEO of Timestamp, brushed off the thought that Bitcoin supporters are migrating to Zcash, stating, \u201cI don’t know a single Bitcoin maxi who thinks about Zcash at all,\u201d he tweeted<\/a>.<\/p>\n

Samson Mow, founder of Jan3, had similar thoughts<\/a>, claiming Bitcoin enthusiasts just roll their eyes at Zcash.<\/p>\n

Eric Balchunas believes Zcash has third-party candidate vibes. Source: <\/em>Eric Balchunas<\/em><\/a><\/figcaption><\/figure>\n

BlackRock Warns Clients Aren\u2019t Seeing Bitcoin\u2019s Payment Potential<\/strong><\/h2>\n

According to Robbie Mitchnick, BlackRock\u2019s head of digital assets, most of their clients aren\u2019t currently viewing Bitcoin as a means for everyday payments when making investment decisions.<\/p>\n

\u201cFor us, and most of our clients today, they\u2019re not really underwriting to that global payment network case,\u201d Mitchnick shared<\/a> during a podcast on YouTube last Friday.<\/p>\n

He added, \u201cThat\u2019s sort of maybe out-of-the-money-option-value upside.\u201d<\/p>\n

While he didn\u2019t dismiss the idea of Bitcoin gaining traction in payments eventually, he cautioned that this scenario seems a bit \u201cspeculative,\u201d emphasizing that investors are more focused on Bitcoin\u2019s role as \u201cdigital gold\u201d or a store of value.<\/p>\n

\u201cA lot has to happen in terms of Bitcoin scaling, Lightning, and other innovations to make that a reality,\u201d he explained. In August 2024, Galaxy Research highlighted that many Bitcoin Layer-2 scaling solutions, especially \u201crollups,\u201d might not be sustainable in the long run, despite their appeal as a way to keep Bitcoin transactions cheap, fast, and decentralized.<\/p>\n

Peter Schiff: Bitcoin in the Hands of \u2018Weak’ Investors Will Lead to Bigger Market Drops<\/strong><\/h2>\n

Gold advocate Peter Schiff believes that Bitcoin\u2019s (BTC<\/a>) shift from sturdy to \u201cweak\u201d investors, thanks to ongoing sell-offs from long-term holders, will lead to more serious future downturns in the market.<\/p>\n

Schiff, a well-known Bitcoin critic, continues to argue that Bitcoin is overhyped and bound for failure. In a recent post on X, he stated<\/a>:<\/p>\n

\n\u201cSome argue that after all these years, BTC is finally having its IPO moment now that there\u2019s enough liquidity for the OGs to cash out. I agree, but this much BTC moving from strong to weak hands not only increases the float, but also means future sell-offs will be bigger.\u201d\n<\/p><\/blockquote>\n

\n \"Mining,
Bitcoin exchange inflow data indicates a rise in BTC sent to exchanges for selling. Source: <\/em>CryptoQuant<\/em><\/a><\/figcaption><\/figure>\n

These comments arise amid a vast downturn in the crypto market, with investors worried that the next bear market might already be upon us.<\/p>\n