Reliance Global Group will convert Bitcoin, Ethereum, Cardano, and XRP all into Zcash, is ZEC going to hit $850?

The NASDAQ-listed Reliance Global Group has converted its entire digital asset portfolio into Zcash. With Zcash gaining strong momentum, experts continue to predict that its price will keep rising. Reliance Group announced that it has completed a comprehensive adjustment of its digital asset portfolio. The company confirmed that it has liquidated all previously held digital assets, including Bitcoin, Ether, Cardano (ADA), and XRP, and converted all asset portfolios into Zcash.

The company stated that this move was made after a comprehensive assessment with Blake Janover, the chairman of the cryptocurrency advisory board. They believe that Zcash is the best long-term growth option for building a portfolio.

Reliance Group stated in a statement that a single asset strategy built around Zcash better supports the company's long-term goals. As CEO Ezra Beyman explained, the privacy foundation of Zcash makes it a more suitable choice.

“In examining the rapidly evolving landscape of digital assets, we clearly recognize that Zcash's privacy architecture and institutional flexibility align more closely with our vision than a diversified cryptocurrency portfolio,” he said. Over the past 90 days, this asset has risen by more than 1200%. Even as other major assets have declined, Zcash has continued to rise against the trend.

Just a few weeks ago, the company had just added XRP to its treasury: at that time, Reliance purchased nearly 17 million dollars worth of XRP tokens.

The continued popularity of Zcash has driven bullish expectations for the token. A cryptocurrency expert recently outlined a new bullish pattern in a new analysis report focused on Zcash. This includes a “bullish Gartley structure” with a target price close to $850.

Well-known trader TraderSZ also stated that ZEC seems ready to “hit new highs.” This indicates that people are increasingly confident that this rise is far from over. An expert even asserted that Zcash could potentially disrupt Bitcoin and become a privacy-focused peer-to-peer digital currency. (CoinGape)