The controversial internet entrepreneur aligned himself with Bitcoin Cash in a Twitter post
Kim compared Bitcoin Cash to its parent fork Bitcoin yesterday via Twitter, saying the two are suited for different purposes. In his opinion, Kim believes that the former is ideal for making payments, whereas the latter is more of an asset storage medium. Although the digital rights activist appeared to promote Bitcoin Cash largely, he still sees Bitcoin’s value growing in the future.
In a tweet, Kim predicted that BCH price would skyrocket by over 800% next year alone to go beyond $3,000. He argued that the crypto coin was increasingly becoming accepted, and its growing adoption rate would push prices higher.
“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,” he wrote.
This is not the first time the entrepreneur has advocated for Bitcoin. He has previously been vocal on the crypto describing it as a good store of value. Kim, however, claims that Bitcoin Cash is more suited for transactions and payment processing.
Kim reiterated that the number of vendors accepting Bitcoin Cash as a payment form was increasing when responding to Tone Vays.
“The winners in the crypto race will be decided by vendors and users,” Kim said. “Focus on the fundamental question: What do vendors and users want? Low fees, fast transactions, high security and ease of use. Vendors and users won’t hear or care about the tribal hysteria in the cryptoverse.”
Kim’s public support for Bitcoin Cash follows Roger Ver’s price comparison of Bitcoin and Bitcoin Cash as traded in the respective trusts of Grayscale. Ver’s who is now a Bitcoin Cash promoter, was previously a Bitcoin early investor and proponent. His support for Bitcoin earned him the nickname ‘Bitcoin Jesus’.
Bitcoin Cash is currently trading at $315.15, having risen 0.94% in the last 24 hours. Bitcoin, on the other hand, is still swinging around the $23,000 level as of writing.