Use as a payment method by online merchants and consumers will drive Bitcoin Cash upward, according to Kim Dotcom.
Kim Schmitz aka Kim Dotcom, the infamous German entrepreneur and operator of the former file-sharing portal Megaupload, is promoting the benefits of Bitcoin Cash and also has words of praise for Bitcoin.
In a corresponding tweet to his more than 700,000 followers, Schmitz predicts that the price of Bitcoin Cash (BCH) will create a gain of 867% in 2021 and climb to more than $3,000. That’s why he plans to run BCH on his own blockchain platform called K.im in the future.
He cites the fact that more and more online retailers are accepting cryptocurrencies as the reason for his optimistic forecast. Their priority would be low costs and speed, in his opinion the best prerequisites for Bitcoin Cash.
Kim Dotcom has repeatedly spoken positively about Bitcoin (BTC) in the past, and now he praises the market leader again, attesting to it being a „great store of value.“ However, he adds at the same time that he sees Bitcoin Cash as a better means of payment.
Bitcoin’s „little brother“ emerged from a spin-off of the market-leading cryptocurrency, with a focus on its use as a means of payment, which confirms Schmitz’s thesis, at least superficially.
In a response to crypto expert Tone Vays, the former Megaupload operator indicated that the number of online merchants now accepting BCH is „steadily increasing.“ Similarly, adoption by the mainstream would continue to advance.
„The winners of the crypto industry will be determined by online merchants and users,“ Schmitz says in this context. To that effect, he elaborates:
„What do online merchants and users want? They want low costs, fast transactions, high security and user-friendliness. Online merchants and users ultimately don’t care about the formation of groups within the crypto industry.“
The controversial firm’s latest remarks come shortly after Roger Ver, himself known as a particularly big advocate of Bitcoin Cash, reported that the Bitcoin offshoot within crypto asset management firm Grayscale’s „Bitcoin Cash Investment Fund“ is trading „for $6,000 apiece.“ The company manages nearly $15.3 billion in crypto assets, though less than 0.5% of that is invested in the Bitcoin Cash mutual fund.
At press time, Bitcoin Cash is trading at $309.98, a gain of 19.5% over the past week.