By Vivian Nguyen
Dec. 5, 2025
Key Takeaways
– Eli Ben‑Sasson and Michael Saylor disagree on Bitcoin privacy.
– According to Saylor, Bitcoin shouldn’t adopt Zcash‑style privacy because it could give nation‑states a justification to shut it down.
Zcash co‑founder Eli Ben‑Sasson said he recently shared details of a conversation with Michael Saylor, co‑founder of Strategy, in which Saylor expressed opposition to adding Zcash‑style privacy features to Bitcoin on regulatory grounds.
Ben‑Sasson reported that Saylor argued Bitcoin should avoid implementing the kind of shielded, strong privacy transactions Zcash offers because such features might provide nation‑states a pretext to try to shut down or more aggressively regulate the network.
The exchange underscores an ongoing industry debate between enhancing user privacy and maintaining regulatory acceptance. Zcash is a privacy‑focused cryptocurrency that supports shielded transactions to conceal sender, receiver, and amounts, and it has been framed by some as a form of resistance money for people facing state persecution.
Strategy (MicroStrategy), where Saylor is a leading advocate, has made large Bitcoin investments and Saylor has pushed for wider adoption and institutional acceptance of Bitcoin. His stance reflects concerns that stronger on‑chain privacy could increase government scrutiny and invite intervention attempts that could harm Bitcoin’s broader adoption.
The conversation between Ben‑Sasson and Saylor highlights the difficult trade‑offs the crypto industry faces: protecting individual privacy and censorship resistance versus seeking regulatory compliance and mainstream acceptance.
