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Vinny Lingham: Hold Bitcoin, Buy Bitcoin Cash

And Sell Litecoin

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Civic CEO Vinny Lingham thinks that Bitcoin Cash is more valuable than Bitcoin.

In an interview with CNBC, Lingham explained why Bitcoin is his least favorite coin and Bitcoin Cash is the most useful, “Bitcoin and Bitcoin Cash are focusing on two totally different markets right now. These two products are serving different needs in the market.”

Bitcoin Cash is a fork of Bitcoin which was launched in August 2017. The new cryptocurrency has a bigger block size (8MB) than Bitcoin (1MB), which leads to faster transactions.

This is one of the reasons why Lingham believes it is much better than Bitcoin, “When I look at it from the product standpoint, I think the greater demand is for peer-to-peer cash than for digital gold.”

The interviewer then asked Lingham to select which cryptocurrencies he would hold, buy and sell — he chose to hold Bitcoin and Ethereum, buy Bitcoin Cash, and sell Litecoin.

Lingham also revealed that he had no interest in Litecoin as it was just another cryptocurrency like Bitcoin with the ‘same technology’ but a different mining algorithm. He believes Charlie Lee’s decision to sell his entire Litecoin holdings is one of the key indicators pointing to why other investors should also sell the cryptocurrency.

In addition to Lingham, other famous crypto users who support Bitcoin Cash include ‘Bitcoin Jesus’ and Bitcoin.com’s founder Roger Ver. Last year, Ver said that people should hold Bitcoins in cryptocurrency exchanges instead of their wallets, in case Bitcoin Cash gains more popularity. According to Ver, in this way it would be easier to sell BTC quickly in exchange for Bitcoin Cash.

At the time of writing, Bitcoin Cash’s price is $1,587.35, and its market cap is $26.8 billion.

Image Credit: Deposit Photos

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