Kim Dotcom Claims This Fork Is More Undervalued Than Bitcoin, Here’s Why
Bitcoin has taken over all forms of media, from mainstream to social. The cryptocurrency was trending on Twitter last night after making above $40,000 for the first time.
The hysteria caught the attention of early internet entrepreneur Kim Dotcom, who claims there’s a Bitcoin fork that’s more undervalued than BTC itself and has the “biggest upside potential” in crypto. But what the fork exactly is he talking about?
Megaupload Founder Kim Dotcom Forewarned Of Fiat Currency Destruction
Megaupload founder and early internet entrepreneur Kim Dotcom has long been a proponent of Bitcoin and cryptocurrencies. Years ago, long before record fiat money printing became the theme of 2020, he warned of the eventual crash of the dollar and proposed cryptocurrencies and gold as a way to protect against what is to come.
He said as far back as August 2018 that an economic crash was coming “100%” and he was right. Come 2020, the economy did crash and the dollar is on the ropes.
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Bitcoin and other cryptocurrencies are flying. Gold and Bitcoin both set new records in the year and could be a sign that Kim Dotcom’s predictions are regularly accurate.
But could the hard fork Bitcoin Cash really have the “biggest upside potential” in crypto and even be more undervalued than BTC itself?
BCH has a lot more to climb to catch up with BTC. Will it? | Source: BTCUSD on TradingView.com
Early Internet Entrepreneur Is Building Next Project, Will Rely on Bitcoin Cash Instead of BTC
Kim Dotcom took to Twitter today to give his followers another piece of financial advice: Consider Bitcoin Cash and not just traditional BTC.
BTC maximalists were quick to attack the controversial Megaupload founder for his views.
“It’s quite simple. The winners in the crypto race will be the currencies that people use for their daily transactions. That is where BCH shines,” he responded in the same Twitter thread.
He also claims that he arrived at that decision because he’s building “new tech” that he is “confident will be used by hundreds of millions of users.” And the only way to provide the best user “experience” is to choose BCH over BTC.
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Admittedly, there’s some truth to his point. The reason for the BCH fork in the first place was to improve upon the OG cryptocurrency’s transaction speed, fees, and scale.
It is hard to believe that there’s more upside potential for BCH as a result when dozens of altcoins do the same job even faster, and Bitcoin Cash is so far behind BTC. But then again, Kim Dotcom has been correct about so many things related to crypto, why would he be wrong now?
Featured image from Deposit Photos, Charts from TradingView.com
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Tony Spilotro, @KhareemSudlow