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Barry Silbert, CEO of cryptocurrency conglomerate Digital Currency Group, said Wednesday that privacy-focused cryptocurrencies are poised to become the next big investment opportunity in the industry.

During a conversation with Anthony Pompliano at the Bitcoin Investor Week conference, Silbert said his thesis is that 5-10% of Bitcoin’s (CRYPTO: BTC) market cap would rotate into privacy coins, including Zcash (CRYPTO: ZEC).

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Silbert acknowledged that Bitcoin also started as an “anonymous” currency, but then it “lost the plot” due to the rise of on-chain analytics firms.

“Bitcoin, for all…