Digital Assets: A $200 Million Warchest to Spur Bitcoin Cash (BCH) Acceptance

November 26, 2019 | Digital Assets, News
https://dailyalts.com/wp-content/uploads/2019/11/30781757658_ae1584a6c6_k-bitcoin-cash.jpg

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        ]

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2020/07/equipment-3089883_640-evidation-article.jpg
Venture Capital: Health Data Analytics Platform Evidation Raises $45M
July 2, 2020     News, Venture Capital

Evidation Health’s Achievement platform collects everyday health data for use in innovative research and health platforms. Giving due emphasis to user privacy and controlled, permissioned health data, the platform gathers…

https://dailyalts.com/wp-content/uploads/2020/07/screenshot-www.weforum.org-2020.07.02-18_06_35.png
Artificial Intelligence: A UVC Robot Disinfects 4,000 Sq Ft Food Bank in 30 Minutes
July 2, 2020     Artificial Intelligence, News

MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL), Ava Robotics, and the Greater Boston Food Bank (GBFB) collaborated on a robotic solution to the problem of disinfecting a large area…

https://dailyalts.com/wp-content/uploads/2020/07/mockup-5288033_640.jpg
Alternative Investments: TrueMark Investments Launches A Structured Outcome ETF That Tracks the S&P 500 Index
July 2, 2020     Alternative Investments, News

TrueMark Investments has launched the TrueShares Structured Outcome (July) ETF (NYSEAMERICAN: JULZ) that offers investors exposure to the S&P 500 price index. The ETF is a “structured outcome” product, the…

https://dailyalts.com/wp-content/uploads/2020/07/india-1748445_1920.jpg
Digital Assets: Crypto Gathers Pace in India After Top Court Decision
July 2, 2020     Digital Assets, News

The Supreme Court of India recently struck down a circular issued by the Reserve Bank of India that barred banks from serving crypto businesses such as traders, exchanges, or others….