Kim Dotcom claims BCH is „great for payments,“ while BTC is „ideal for asset storage“
Kim Dotcom, Internet entrepreneur and digital rights activist, is enthusiastically promoting Bitcoin Cash as a medium of exchange, but still remains optimistic about Bitcoin.
In a tweet posted yesterday to his 711,700 followers, Dotcom predicted that in 2021, the price of Bitcoin Cash (BCH) will increase by 867%, surpassing $3,000. He also announced that he will support BCH on K.im, his peer-to-peer blockchain dedicated to content monetization:
„Bitcoin > great for asset storage. Bitcoin Cash > great for payments.
Today Bitcoin Cash is worth $310, I predict a price of $3,000+ next year. Why? More and more merchants are accepting cryptos, and want low fees and fast transactions. I’m bullish on BCH. I will retweet this tweet in a year, maybe even sooner.“
Dotcom has long been a big supporter of Bitcoin News Trader (BTC) as a store of value, but he seems to be suggesting that BCH is a better alternative for transactions. Responding to a comment from influencer Tone Vays, he explained that the number of merchants accepting BCH „is steadily increasing,“ and crypto adoption for the average internet user is set to accelerate.
„The winners of the crypto competition will be decided by merchants and users,“ Dotcom added.
„What do merchants and users want? Low fees, fast transactions, high security and ease of use. They don’t care about tribal hysteria in the crypto universe.“
The entrepreneur’s comments follow reports from Roger Ver, a well-known BCH supporter, that the token is currently trading „at around $6,000“ within Grayscale Investments‘ Bitcoin Cash Trust, while BTC has a price of $30,000 in the company’s Bitcoin Trust. To date, Grayscale manages about $15.3 billion in crypto assets. However, less than 0.5% of the total, a figure of $71.2 million, is in the Bitcoin Cash Trust.
At the time of writing, the price of Bitcoin Cash is $317.55, after a 22.8% rise in the last week.