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VanEck Questions Bitcoin’s Encryption as Zcash Climbs and OKX Sets Relisting

VanEck's caution shifts attention to whether Bitcoin can migrate quickly if a credible quantum threat appears.

Overview

  • Jan van Eck told CNBC the firm could walk away if Bitcoin’s core thesis proves broken, citing encryption strength and privacy as central concerns.
  • VanEck oversees more than $1.2 billion in BTC through its spot ETF, making its public stance consequential for institutional flows.
  • The CEO said some long‑time Bitcoin holders are examining Zcash for stronger privacy; ZEC has rallied, and OKX will resume ZEC/USDT spot trading on Nov. 24 at 12:00 UTC.
  • Experts diverge on timelines: Vitalik Buterin and Scott Aaronson warn of a potential pre‑2028 quantum break, while Adam Back projects meaningful risk in 20–40 years.
  • Zcash developers say a “quantum recoverability” path is largely built to allow a pause‑and‑upgrade, as Bitcoin advocates push back on claims of a broader shift to privacy coins.