{"id":14442,"date":"2021-12-01T17:48:26","date_gmt":"2021-12-01T16:48:26","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=14442"},"modified":"2021-12-01T17:48:35","modified_gmt":"2021-12-01T16:48:35","slug":"digital-currency-group-ceo-purchases-85m-worth-of-zcash-leading-to-a-7-price-surge","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/digital-currency-group-ceo-purchases-85m-worth-of-zcash-leading-to-a-7-price-surge\/","title":{"rendered":"Digital Currency Group CEO purchases $85M worth of ZCash leading to a 7% price surge"},"content":{"rendered":"\n
Digital Currency Group CEO<\/a> and creator Barry Silbert acquired more ZCash to add to his company's holdings. Following Silbert\u2019s announcement, the price of ZEC surged to $243.84 which approximately was more than a 7% increase in price.<\/h5>\n\n\n\n
\"Digital<\/figure><\/div>\n\n\n\n

Silbert disclosed the acquisition of $85 million in Zcash (ZEC) in a Wednesday tweet \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>to his more than 678,000 followers, or around 376,106 tokens assuming an average price of $226.<\/p>\n\n\n\n

The purchase is the latest for Silbert, who appears to be portraying himself as a crypto market contrarian by buying millions more ZEC in response to negative comments.<\/p>\n\n\n

\n

Alright, you asked for it. We bought $85 million more Zcash $ZEC<\/use><\/svg><\/span><\/a><\/p>\n

Pray for us… https:\/\/t.co\/Pv6i0LO789<\/use><\/svg><\/span><\/a><\/p>\n

\u2014 Barry Silbert (@BarrySilbert) December 1, 2021<\/use><\/svg><\/span><\/a><\/p>\n<\/blockquote>\n

<\/p>\n\n\n

Following Silbert's announcement, the price of ZEC increased by more than 7%, from $226.08 to $243.84. However, since hitting a six-month high of more over $300 on Nov. 25, shortly after its basic protocol switched from Proof-of-Work to Proof-of-Stake<\/a>, it has dropped more than 20%.<\/p>\n\n\n\n

Crypto tycoons like Silbert may be buying ZEC in preparation for the project's tokens being locked up for longer periods of time.<\/p>\n\n\n\n

Electric Coin Company, Zcash's main developer, stated on Nov. 19 that users will be able to stake a percentage of their holdings into a dedicated ZEC smart contract in order to become validators on the blockchain.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Grayscale<\/a>, a $53.5 billion AUM digital asset manager run by Digital Currency Group, provides clients with exposure to cryptocurrencies through trusts.<\/p>\n\n\n\n

The Grayscale Zcash Trust was first listed on the OTCQX Best Market in October. Silbert also intimated that the Bitcoin Trust will be converted into a spot-settled Bitcoin exchange-traded fund.<\/p>\n","protected":false},"excerpt":{"rendered":"

Digital Currency Group CEO and creator Barry Silbert acquired more ZCash to add to his company’s holdings. Following Silbert\u2019s announcement, the price of ZEC surged to $243.84 which approximately was more than a 7% increase in price. Silbert disclosed the acquisition of $85 million in Zcash (ZEC) in a Wednesday tweet to his more than […]<\/p>\n","protected":false},"author":12,"featured_media":14444,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[5391,5691,5689,5690],"class_list":["post-14442","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-digital-currency-group-2","tag-price-surge","tag-zcash","tag-zec"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/12\/image-15.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/14442","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=14442"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/14442\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/14444"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=14442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=14442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=14442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}