Bitcoin has taken over all types of media, from mainstream to social. The cryptocurrency was trending on Twitter last night after earning over $ 40,000 for the first time.
The hysteria caught the attention of early internet entrepreneur Kim Dotcom, who claims that there is a bitcoin fork that is more undervalued than BTC itself and has the “biggest upside” in crypto. But what about the fork, exactly?
Megaupload founder Kim Dotcom warned of the destruction of the fiat currency
Megaupload founder and early internet entrepreneur Kim Dotcom has long been a proponent of bitcoin and cryptocurrencies. Years ago, long before printing record fiat money became the topic of 2020, he warned of the possible crash of the dollar and suggested cryptocurrencies and gold to protect against what is to come.
In August 2018, he said that an economic crash was “100%” imminent and that he was right. In 2020 the economy collapsed and the dollar is on the ropes.
Related reading | Analyst: Post Bitcoin, traditional finances are pouring into DeFi, not Ethereum
Bitcoin and other cryptocurrencies are flying. Gold and Bitcoin both set new records for the year and could be a sign that Kim Dotcom’s predictions are consistently correct.
But could the hard fork Bitcoin Cash really have the “greatest upside potential” in crypto and even be undervalued than BTC itself?
BCH has a lot more climbing to do to catch up with BTC. Is it? | Source: BTCUSD on TradingView.com
The early internet entrepreneur is building the next project and will rely on Bitcoin Cash instead of BTC
Kim Dotcom took to Twitter today for some more financial advice to his followers: look at Bitcoin Cash, not just traditional BTC.
BTC maximalists quickly attacked the controversial Megaupload founder for his views.
“It’s very simple. The winners of the crypto race are the currencies that people use for their daily transactions. This is where BCH shines,” he replied on the same Twitter thread.
He also claims that he made this decision because he was developing “new technologies” that he believes are “used by hundreds of millions of users”. The only way to get the best user experience is to choose BCH instead of BTC.
Related reading | Bitcoin Dominance Doji: Why 2021 could mean fate for altcoins
Granted, there is some truth to its point. The reason for branching out BCH was primarily to improve transaction speed, fees, and scalability of the OG cryptocurrency.
It’s hard to believe that this gives BCH more upside potential when dozens of altcoins do the same job even faster and Bitcoin Cash lags that far behind BTC. But then again, Kim Dotcom was right about so many things crypto-related. Why should he be wrong now?
Featured image from deposit photos, charts from TradingView.com