Key Takeaways 

Why did Zcash rally this week?

Zcash more than doubled after Naval Ravikant endorsed it as “insurance against Bitcoin.”

Will the uptrend continue? 

It can if the financial privacy narrative continues. In the meantime, there could be a temporary cool-off. 

On the 1st of October, Zcash [ZEC] exploded 62% and added an extra +20% at press time. Overall, the privacy-focused coin more than doubled this week.

It surged from $53 to a three-year high of $154.4 on the Binance exchange as of press time.  

The explosive upswing was triggered by shilling from renowned investor Naval Ravikant. He called it an “insurance against Bitcoin” amid an aggressive push for CBDCs (Central Bank Digital Currencies) in most countries. 

He said, 

“Bitcoin [BTC] is insurance against fiat. ZCash is insurance against Bitcoin.”

Ravikant added that even Satoshi can’t use Bitcoin because of surveillance.