Kim Dotcom, the CEO and founder of Megaupload, a company that offers online file storage and viewing services, has predicted that bitcoin cash (BCH) will surge by up to 900% in the coming year. Dotcom shared his bullish sentiments on the sixth-largest cryptocurrency in terms of market capitalization via a tweet on December 17. In the tweet, the internet entrepreneur also noted that bitcoin (BTC) is the best option when it comes to asset storage. However, according to him, BCH is great for payments.
Bitcoin > great for asset storage
Bitcoin Cash > great for payments
Bitcoin Cash at $310 today.
I expect $3000+ next year.
Why?
More and more vendors accept crypto. Vendors want low fees and fast transactions.
I’m bullish on BCH.
I’ll retweet this in a year.
Maybe earlier.
— Kim Dotcom (@KimDotcom) December 17, 2020
His tweet spurred mixed reactions in the Twitter crypto community. A large fraction of crypto enthusiasts that replied to his tweet were averse to his idea of BTC being perfect for asset storage and BCH being suitable for payments.
However, Josh Ellithorpe, a software engineer was in tandem with Dotcom’s reasoning. He said, that he agrees with Dotcom and that BCH is undervalued at the moment. He added that the coin poses a huge opportunity for crypto adopters that are not lost in maximalism. Dotcom concurred with Ellithorpe, adding that the BCH has a lot of potential for crypto enthusiasts that missed out on investing in BTC early.
A long-term BCH advocate
Dotcom’s tweet came after BTC recently breached past its previous ATH. However, this is not the first time that he openly touted bitcoin cash. In January this year, he went on an interview with Tone Vays, a BTC maximalist where he said maximalists were stupid for ignoring a P2P cash vision. In the interview, Dotcom also said that Roger Ver, Bitcoin.com’s CEO, has many good ideas. For instance, Ver was working on impressive projects in terms of security and privacy.
This news comes as BCH continues trading due to BTC’s effect. Over the last seven days, the coin surged 22.69%. At the time of writing, the coin is down 2.02% over the past 24 hours to change hands at ?231.8. It has a daily volume of ?3,367,193,999 and a market cap of ?4,322,931,032.
The post Kim Dotcom bullish on Bitcoin Cash; Predicts BCH to surpass ?2K in 2021 appeared first on Invezz.
