Entrepreneur Vinny Lingham believes that Bitcoin Cash will be in greater demand than actual Bitcoin in the future.
In August 2017, developers split off from the original Bitcoin to form Bitcoin Cash, in an attempt to improve the speed and costs of Bitcoin transactions.
Speaking to CNBC on Thursday, Lingham said that the two cryptocurrencies were currently focusing on two different markets, with Bitcoin good for investing opportunities, while Bitcoin Cash is most commonly used for fast payments.
“When I look at it from a product stand point I think that the greater demand is for peer-to-peer cash rather than digital gold, but this is something that we will only be certain of in a couple of years when this all plays out,” he said.
Lingham also provided some insight on what cryptocurrencies he would buy, sell or hold.
- Bitcoin – Hold
- Bitcoin Cash – Buy
- Ethereum – Hold
- Litecoin – Sell
Lingham said that part of the reason he was looking to sell Litecoin is partially because of founder Charlie Lee’s decision to sell his position in the coin, but also because he didn’t feel like the coin had any major differentiators which set it apart from other coins.
Another cryptocurrency Lingham said that he was looking to invest in was 0X (Zero-X) because of its technology for decentralising exchange protocols and its potential to adapt with possible government regulation in the future.