One of the first investors in Bitcoin, Roger Ver, told CNBC that crypto users and developers around the world are adopting Bitcoin Cash faster than Bitcoin Core.
Bitcoin’ Bitcoin Cash, a fork of Bitcoin Cash, split from Bitcoin last year after a small group of developers decided to add updates that would improve transaction efficiency.
The original Bitcoin is being called Bitcoin Core by Roger Ver to distinguish it from other versions.
Ver, who is sometimes called “Bitcoin Jesus” for being one of the first investors in Bitcoin, said that Bitcoin’s software is slow, expensive and unreliable.. Instead of Bitcoin, he recommended Bitcoin Cash, which was produced specifically for transactions.
Ver also said that new innovations and infrastructures are built on top of Bitcoin Cash:
“ Like Bitcoin.com, of which I am the CEO, all existing businesses are building their new products on top of Bitcoin Cash.”
Website helps investors buy and store Bitcoin and other cryptocurrencies .
Ver explained why he expects a rise in Bitcoin Cash with the following statements:
“The economic path Bitcoin Cash is on is what led to Bitcoin’s original success. I expect Bitcoin Cash to increase in value for the same reasons I expected Bitcoin to rise in 2011 for the same reasons.”
On Tuesday, BitcoinCash created a new Blockchain with 32MB block size limits.. With the software update, the value of Bitcoin Cash has dropped by about 5 percent. Ver was not worried about Tuesday’s slump, even predicting that Bitcoin Cash will double in value by the end of the year.
Bitcoin Cash currently sits at approximately $1,300.