2020-12-18 19:10 |
Kim Dotcom, the founder of hosting service Megaupload, is extremely bullish on Bitcoin Cash (BCH).
As Bitcoin plows through all-time highs above $23,000, Dotcom made a bold call on one of Bitcoin’s first forks, Bitcoin Cash.
Via his Twitter account, Dotcom explained that:
“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.”
Dotcom continued shortly after with a second tweet stating, “BCH has many use cases today. And K.im will use BCH.” Dotcom created the K.im platform, branding it as “the ultimate content monetization platform.”
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.
Many respect the notorious internet entrepreneur for his creations in the tech world. Dotcom has built up a large following along the way.
His extensive knowledge has led many of his Twitter followers to ask why he would tweet about a Bitcoin fork that is still down about 90% from its all-time high.
BCH is even lower when compared with BTC. One Twitter user, @GKBoris promptly replied to Dotcom’s initial tweet, stating, “stop scamming, please. Digital scarcity can exist only once.”
Another replied, “I respect you, but please don’t shill Bitcoin Cash.. it has no use cases.” Some argue that Dotcom is only promoting BCH to entice buyers rather than endorsing it based on any fundamentals.
Does It All Add Up?According to a one-pager report on Dotcom’s monetization platform,
“K.im Payment, a powerful blockchain payment engine, will provide a set of services that support a range of cryptocurrencies which will include Bitcoin and Kimcoin initially. This enables fast and cost-efficient transactions inside the K.im Ecosystem.”
It’s unclear which crypto Dotcom is to alluding to in his tweets. The one-pager continues:
“To process transactions, customers will be able to use Bitcoin and Kimcoin, a utility token, which can be used to purchase content, or donate/tip other users. Kimcoins will be Liquid tokens. Customers may also be able to use various other cryptocurrencies”.
The document refers to ‘Bitcoin’ and not ‘BTC’ or ‘BCH.’ Bitcoin Cash proponents often refer to BTC as Bitcoin Core. And so the question remains, will K.im support Bitcoin or Bitcoin Cash or both?
Some in the crypto community argue that Dotcom is waiting for the opportune time to offload a large bag of BCH that he’s holding. Only time will tell whether this is true or not.
The post Kim Dotcom Endorses $3,000 Bitcoin Cash (BCH) Price in 2021 appeared first on BeInCrypto.
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