Bitcoin cash is a must-own, says crypto investor Brian Kelly

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Cryptocurrency investor Brian Kelly said. Bitcoin cash is the must-own digital currency of the moment.

 

On Saturday, bitcoin cash miners met to discuss funding for a bitcoin cash development fund, he told CNBC.

In the fund, miners are “going to take some of the rewards they get from mining and put it in a fund to build stuff on top of bitcoin cash,”

“That’s how blockchains gain value,” 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.”

“That’s a place I want to buy,” said Kelly, who is founder and CEO of BKCM, an investment firm focused on digital currencies.

Bitcoin cash was priced at $1,233.25 at 6 p.m. ET Monday. While it declined from its $1,300 price the week of May 14, bitcoin cash was still valued significantly higher than its April 17 level of $763.

See Also: Things You Need to Know While Investing in Altcoins

Chesnot | Getty Images

 

The crypto market watchers were expecting the most notable digital coin of all, bitcoin, to rally during Blockchain Week New York. Instead, the coin declined about 10 percent, briefly falling below the $8,000 level. Bitcoin, priced around $8,400 Monday at 5:30 p.m. ET, is down about 5 percent in the last month.

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Betty Chigozirim
Betty Chigozirim is a passionate Writer, Editor, Speaker, Poet, Blogger and a bunch of many creative abilities. A trained Information Professional @Abia State University, a Public Speaker/Corporate Presenter and also a Certified Project Management Professional. She is a calculated risk taker with deep tech knowledge on investment, inspiration and lifestyle, with many online and offline publications to her credit. She is a Writer and Editor for Investment Watch; and most of her publications are geared towards inspiring people towards the right investment, Investment Opportunities, Personal Finance, Economy and Investment News. When she's not speaking, writing or exploring any of her creative abilities, you sure can find her reading, conversing with family and friends or finding a solution to a problem for the 13th Billionth time! You can follow/contact Betty by clicking any of the below: