Kim Dotcom backs Bitcoin Cash and believes its price will reach $3,000 by 2021

19. Dezember 2020

Kim Dotcom sees BCH as „great for making payments“ compared to BTC „as a great asset for value storage“.

Internet entrepreneur and digital rights activist Kim Dotcom has been enthusiastically promoting Bitcoin Cash as a medium, but he’s still bullish about Bitcoin.

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According to a tweet published today for its 711,700 followers, Dotcom predicted that the price of Bitcoin Revolution will rise 867% by 2021, reaching more than USD 3,0000. It also said it would support BCH in its chain of „K.im“ peer-to-peer content monetization blocks.

Bitcoin > great as a valuable storage asset
Bitcoin Cash > great for making payments

Bitcoin Cash costs USD 310 today.
I expect a price of USD 3000 or more next year.

Why?

More and more vendors are accepting crypto currencies. Sellers want low commissions and fast transactions.

I’m a bullish trader with BCH.

I will give this a retuit in one year.
Maybe sooner.

Dotcom has been a vocal advocate of Bitcoin (BTC) as a store of value for some time, but seems to be suggesting that BCH is better for trading. In response Bitcoin’s influencer, Tone Vays, said that the number of vendors accepting BCH is „steadily increasing“ and that the adoption of cryptomoney among average Internet users is likely to increase as well.

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„The winners of the crypto coin race will be decided by the vendors and users,“ said Dotcom.

„What do the vendors and users want? Low commissions, fast transactions, high security and ease of use. Vendors and users will not hear or worry about tribal hysteria in the crypto universe.

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The entrepreneur’s comments came when BCH’s proponent, Roger Ver, reported that the token was currently being marketed „for about USD 6,000 each“ within Grayscale Investments‘ Bitcoin Cash trust, as opposed to BTC being sold for USD 30,000 in the company’s Bitcoin trust. The company has approximately USD 15.3 billion in crypto assets under management today. However, less than 0.5% of the total (USD 71.2 million) is in the Bitcoin Cash trust.

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The price of Bitcoin Cash is USD 309.98 at the time of publication of this article, having gone up 19.5% in the last week.