Arthur Hayes, BitMEX co-founder, forecasts privacy will be the defining crypto narrative in the coming year, highlighting Zcash as a key privacy asset. His family office, Maelstrom, has taken a substantial position in Zcash, viewing it as an undervalued response to increasing state surveillance and economic pressures. Hayes ties this trend to U.S. political and economic dynamics, suggesting that expanding credit and energy price controls will drive demand for both Bitcoin and privacy-focused cryptocurrencies.