Digital Assets: A $200 Million Warchest to Spur Bitcoin Cash (BCH) Acceptance
Roger Ver backed Bitcoin.com will set up a $200 million investment fund next year.
Bitcoin Cash (BCH) is the spin-off from the original Bitcoin (BTC) due to a hard fork in August 2017. The crypto offshoot is technologically faster with a “lighter blockweight.” Unfortunately, the use of Bitcoin Cash in transactions and eCommerce has been flagging, though it is fourth in the cryptoassets pecking order by size. But help may be at hand from Roger Ver, often referred to as the Father of Bitcoin Cash, even “Bitcoin Jesus.”
Investment fund to support bitcoin cash (BCH)-facing startups
Roger Ver’s $200 million fund is titled “BCH Ecosystem Investment Fund.” It will act as an incubator to support startups looking to create payment systems based on the BCH blockchain and cryptocurrency.
According to Bitcoin.com CEO Stefan Rust, the BCH blockchain is attractive to software developers for its unique features and capabilities. Entrepreneurs regularly present business proposals that leverage these advantages.
“Bitcoin.com now has the resources and team to support these BCH entrepreneurs, grow the value of their businesses and spread bitcoin cash adoption,” he said.
The venture funding is a follow-up to several other initiatives to provide a fillip to the adoption of the cryptocurrency.
These include the acquisition of a Japanese blockchain development startup and plans to launch a cryptocurrency exchange. By the first quarter of 2020, BCH futures may also be trading on a CFTC regulated exchange.
Why BCH may see a reversal of fortune
A very powerful USP of BCH is its cheap and fast processing of transactions. It is superior on these metrics even to bitcoin (BTC).
It is gradually finding greater acceptance from online retailers. Prominent such names include AT&T and brewery Brewdog.
However, the price performance of BCH has been uninspiring.
Maybe Ver-funded startups will make a difference and revive bitcoin cash.
[Related Story: Peter Brandt: Bitcoin Could Hit $5,500 in 2020 ]
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