Cryptocurrency expert predicts big gains for Bitcoin Cash
Bitcoin Cash miners met on Saturday to discuss funding for a BCH development fund, Kelly told CNBC.
Speaking on CNBC’s “Fast Money,” the cryptocurrency expert said:
“In the fund, miners are going to take some of the rewards they get from mining and put it in a fund to build stuff on top of bitcoin cash.”
“That’s how blockchains gain value.
“You’re going to be getting more use cases to the extent that usefulness translates into value.
“That could be a positive for bitcoin cash.”
“That’s a place I want to buy,” added Mr. Kelly, who is the CEO and founder of BKCM, an investment firm focused on digital currencies.
At the time of press, Bitcoin Cash is currently valued at $1160, according to the live price charts.
Despite falling from its recent $1,300 price, Bitcoin Cash was still valued significantly higher than its April 17 value of $763.
However, the coin declined about 10 percent instead, briefly falling below the $8,000 price level.
Bitcoin, currently valued at around $8,200, is down about 8.5 percent in the last month.