Zcash led a 37% surge in privacy-focused cryptocurrencies after crypto investment firm Multicoin Capital announced it had acquired a significant position in the privacy coin. The news led to a rise in privacy coins, with privacy coins Dash and Monero adding 22% and 4% respectively. The firm argued that political risks to public wealth were a warning, and that while Bitcoin offers censorship resistance, it does not protect investors against wealth taxes or seizure of known holdings. Despite this surge, the outlook for the privacy sector remains pessimistic.