'$1 Million Bitcoin' Advocate Samson Mow Takes Aim at Zcash's 1,000% Year-to-Date Surge

Key Summary

Samson Mow, a Bitcoin maximalist, has criticized Zcash's 1,000% year-to-date surge, citing an artificially inflated market capitalization of $22 billion. Mow believes the market's speculative capital is insufficient to sustain Zcash's top-10 valuation. He attributes the coin's rise to flawed governance, high fees, and centralization. In contrast, Zcash supporters attribute its growth to recent infrastructure changes, including the NU7 upgrade, which increased block generation speed. Zcash's liquidity has been supported by THORChain pools and a $306 million Grayscale inflow, but also saw its first major outflow of $93 million.