On November 4, Roger Ver, the former CEO of Bitcoin.com and the most vocal evangelist of Bitcoin Cash (BCH), showed a charitable side of himself. The cryptocurrency proponent announced via a Facebook post that he would be giving away $5 in BCH to all his friends on the popular social network, for reasons best known to him.
BCH Could be Worth $5,000
However, while we could debate on what the rationale for the giveaway could be (especially given how much it could cost him), it was an additional statement while promoting his new giveaway that seemed to have caught many by surprise. In the video, he claimed that Bitcoin Cash “could easily become worth $5,000.”
Ver added that interested people who are not his friends on Facebook could also be a part of the giveaway, as all they needed to do was post their Bitcoin Cash address under the Facebook post. The $1 he would give his non-friends, he reckoned, could easily reach $1,000 in worth someday.
As expected, the claim that BCH could see a 100,000 percent increase has gained much attention. With over 2,000 comments at press time (and most of them were made with their wallet addresses, of course), Ver has undoubtedly hit the jackpot if he wanted this to be nothing more than a publicity stunt.
Presently, the value of the BCH is $290.88. This means that for a recipient of Ver’s giveaway post on Facebook to reap the forecasted profits by Ver, the price of Bitcoin (BCH) would have to skyrocket to $290.880. However, given that Ver did not provide details on when his forecast might come to fruition or give a logical reason for the potential price increase, someone who takes this man for his word might have much waiting to do.
Of course, that isn’t to say that the asset is out of its depth, reaching for the $5,000 mark. Since the asset broke off from the original Bitcoin in October 2017, it has risen rapidly, becoming the fourth-largest cryptocurrency by market capitalization. Bitcoin Cash was also significantly hit as a result of the crypto winter, as it saw its price drop from an all-time high of $4,091 in December 2017 to as low as $80.95 in December 2018.
This year, however, Bitcoin Cash has been one of the top-performing cryptocurrencies, rebounding about 263 percent to hold a price of $291 at press time. A 100,000 percent increase might seem like a long shot, but if Bitcoin could rise from being as valuable as snake oil to be worth almost $20,000 at some point, its offshoot can see some outrageous gains “someday.”
Ver left his post as the CEO of Bitcoin.com, and in August, Stefan Rust was appointed in his stead. Rust said he would keep working on the development of the company’s latest products and services that encourage peer-to-peer electronic cash. Talking about his new appointment, Rust said that he is very “excited to take on the role of CEO working alongside Roger. Together we can now turbocharge the awesome team and great brand that is Bitcoin.com.”