Silbert Cautious on Bitcoin Returns, Sees Opportunity in Privacy Tokens

Grayscale Chairman Barry Silbert said he remains bullish on Bitcoin but does not expect 500x returns from current levels. He believes this kind of exponential growth is unlikely without a collapse in the U.S. dollar.

Silbert thinks between 5% and 10% of Bitcoin's value could shift into privacy-focused tokens like ZEC and TAO, which are both on his radar as transformative projects with potential for significant returns.

ZEC has fallen 3.7% in the last 24 hours to around $233.65, while its retail sentiment on Stocktwits improved from 'extremely bearish' to 'bearish', albeit with low chatter levels.

TAO, however, bucked the broader market decline and rose 4.6% in the last 24 hours to around $156, with retail sentiment moving into bullish territory and extremely high message volume on Stocktwits.