Kim Dotcom throws weight behind BCH, tips $3K price in 2021

Internet entrepreneur and digital rights activist Kim Dotcom has been enthusiastically promoting Bitcoin Cash as a medium of exchange, but still remains bullish on Bitcoin.

According to a tweet to his 711,700 followers today, Dotcom predicted the price of Bitcoin Cash (BCH) would increase 867% in 2021, reaching more than $3,000. He said he was also going to support BCH on his crypto-enabled peer-to-peer content monetization blockchain K.im.

Bitcoin > great for asset storageBitcoin Cash > great for paymentsBitcoin 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.

— Kim Dotcom (@KimDotcom) December 17, 2020

Dotcom has been an outspoken advocate for Bitcoin (BTC) for some time as a store of value, but seems to be suggesting BCH is better for transactions. In a response to Bitcoin influencer Tone Vays, he said the number of vendors accepting BCH is “steadily rising” and crypto adoption for the average Internet user would likely pick up.

“The winners in the crypto race will be decided by vendors and users,” said Dotcom.

“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.”

The entrepreneur's comments came as BCH proponent Roger Ver reported that the token was currently being traded “for about $6,000 each” inside Grayscale Investments’ Bitcoin Cash trust, compared to BTC selling for $30,000 in the firm’s Bitcoin Trust. The company holds roughly $15.3 billion crypto assets under management as of today. However less than 0.5% of the total — $71.2 million — is in the Bitcoin Cash trust.

The price of Bitcoin Cash is $309.98 at the time of publication, having risen 19.5% in the last week.