Emil Oldenburg, the Swedish co-founder of one of the largest cryptocurrency websites, Bitcoin.com, revealed that he sold all his Bitcoins. As he said in an interview for the Swedish Breakit, he now holds his capital in Bitcoin Cash. Oldenburg believes that Bitcoin as it stands today is ‘useless on the web’.
The investment in Bitcoin at this point in time is, in my opinion, one of the more risky investments that can be made. This is a very high risk investment. Actually, I sold all my Bitcoin and moved to Bitcoin Cash.
Slow and expensive transactions
Oldenbur has lived for years in Tokyo, where he accepted his salary in Bitcoin. Now, the long transaction time and the growing cost of transferring BTC have led him to invest in its main competitor, due to its quicker and cheaper transactions.
Bitcoin’s transaction fees have increased from around 20 cents to over $15 since the beginning of the year.
Oldenbur founded Bitcoin.com together with Roger Ver, also known as “Bitcoin Jesus”. Ver is one of the most fervent supporters of Bitcoin Cash.
Over the last week, the value of Bitcoin Cash has increased by more than 100%! His statement could have been one of the causal factors. And what do you foresee for Bitcoin Cash in the coming months?