Mega founder Kim Dotcom has made clear his support for Bitcoin Cash on his Twitter account, predicting it will reach $3,000.
The last few days the crypto world has been dominated by the news around Bitcoin and Ethereum. This makes sense now that BTC managed to reach new historical highs in its biggest bullish rally to date. While Ethereum starts the release of its version 2.0. However, the other crypto currencies of the world are still competing. What’s clear now is that Mega founder Kim Dotcom supports Bitcoin Cash.
The relative position of Bitcoin Cash
One of the main characteristics of crypto world is its decentralization. When Satoshi Nakamoto designed Bitcoin, he didn’t do so with the goal of maintaining a monopoly on virtual currencies. Instead, Nakamoto made the Bitcoin code free and transparent, which has allowed dozens of creators to use it as the basis for their own virtual currencies.
That’s the case with Bitcoin Cash, a crypto-currency that was born out of a division in the Bitcoin Blockchain. This was caused by the position of the majority sector of the crypto community, which refused to increase the size of the blocks in the BTC chain to make transactions faster.
This led those who wanted to prioritize the speed of transactions, to allow Bitcoin to compete with fiat money on an equal footing, to decide to abandon cryptomoney. Creating instead Bitcoin Cash, the most important hard fork in the BTC chain. A crypto currency that offers much faster operations than those taking place in the Bitcoin Blockchain.
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Kim Dotcom supports Bitcoin Cash
Despite having raised important expectations in its early days, today Bitcoin Cash has been left in the background. Being overshadowed by Bitcoin itself and by other alternative cryptomontages like Ethereum or XRP.
However, that hasn’t prevented Mega’s founder, the controversial Kim Dotcom, from remaining one of the main figures behind BCH. Predicting through his Twitter account that the cryptomone will reach $3,000 in 2021, from the $310 it currently trades at. An increase of 867% if it happens.
„Bitcoin is great for asset storage and Bitcoin Cash is great for payments. Bitcoin Cash at $310 today. I hope it’ll be over $3,000 next year. Why? More and more vendors are accepting crypto currencies. Sellers want low commissions and fast transactions. I’m optimistic about BCH. I will tweet this again in a year. Maybe sooner.
Kim Dotcom predicts Bitcoin Cash at $3,000. Source: CoinDeskKim Dotcom predicts Bitcoin Cash at $3,000.
So, Kim Dotcom shows that while she’s optimistic about the future of Bitcoin, she also supports Bitcoin Cash as a cheaper and more efficient alternative for day-to-day transactions. Something that could boost the price of cryptomoney during 2021.