Last week, Brian Kelly was in the headlines when the founder and chief executive officer of BKCM (Brian Kelly Capital Management), teamed up with REX Shares to launch a blockchain startup-based exchange-traded fund ( Blockchain ETF).
Now the latest from him this week is about his belief in Bitcoin Cash. Cryptocurrency investor Brian Kelly believes bitcoin cash is an essential buy for digital currency holders in the wake of an important meeting of BCH miners over the weekend.
Brian Kelly confirmed his optimistic view towards Bitcoin Cash speaking on CNBC’s Fast Money on Monday. Bitcoin Cash miners met on Saturday to discuss the ways of financing further BCH development. It was proposed to allocate some part of the rewards they get from mining to a special fund and invest them in enhancing BCH ecosystem.
Kelly explained,
“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,”
He added,
“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.”
The value of BCH fell on Tuesday, mirroring a general decline in the cryptocurrency market. At press time, BCH was down 4% at $1,191.
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