The cryptocurrency bear market has left many traders wondering which digital assets will emerge on top. On CNBC’s Fast Money, industry leaders Roger Ver and Charlie Lee shared their opinions on Bitcoin (BTC), Litecoin (LTC) and Bitcoin Cash (BCH) investments.
Roger Ver Bullish on BCH
Roger Ver, known in the crypto community as “Bitcoin Jesus,” answered questions by CNBC Fast Money host Melissa Lee regarding BCH on Aug. 27.
‘Bitcoin Jesus’ aka @rogerkver explains why #BitcoinCash is a better investment than #bitcoin pic.twitter.com/KQbgCJdPE2
— CNBC’s Fast Money (@CNBCFastMoney) August 27, 2018
During the interview, Ver expressed optimism for the Bitcoin-forked digital asset, stating that BCH has a better commercial applicability than BTC for practical daily use.
“BTC-Bitcoin is no longer, or at least last December, wasn’t usable for commerce at all. The fees became high, the transactions became slow and unreliable and people like myself and everybody else that was actually trying to use it for commerce stopped and switched to something else. And that something else was most likely to be Bitcoin Cash for the most number of people.”
In early March, TrustNodes reported that over 100,000 BitPay merchants began accepting BCH as a payment method. BitPay also allows merchants to accept BTC.
BCH currently represents 4.22 percent of the entire cryptocurrency market. Despite a multi-month downtrend, BTC continues to prevail as the most popular cryptocurrency, with a 52.7 percent overall market dominance.
Charlie Lee Won’t Buy Back His Litecoin
On Aug. 27, Litecoin founder Charlie Lee also appeared on CNBC’s Fast Money to answer questions about his past LTC investments and the upcoming Litecoin Summit.
Litecoin creator Charlie Lee says he wouldn’t buy back his #litecoin. Here’s why. pic.twitter.com/ghZSHq1VMb
— CNBC’s Fast Money (@CNBCFastMoney) August 27, 2018
Lee sold his entire LTC investment during the end of 2017 and currently holds zero LTC. Citing LTC’s recent price drawback, CNBC host Melissa Lee asked Charlie Lee if he sees the state of the current market as an opportunity to re-enter his LTC position.
“For me, I sold because of conflict of interest, so I’m not going to buy my litecoins back anytime soon or at all.”
Earlier this month, the Litecoin Foundation announced its first annual summit hosting blockchain and cryptocurrency experts and businesses.
The event aims to foster cryptocurrency mass adoption, specifically promoting the #PayWithLitecoin campaign for merchants in various industries.
When asked what he’d like to see from the conference, Lee replied:
“I’d like people to focus on technology and on adoption, merchant adoption and also how to scale. Things like lightning network or side chains helping bitcoin and litecoin to scale. I’d like to see more talk around that.”
The Litecoin Summit will take place, Sept. 14-15, at the South San Francisco Conference Center.
