Bitcoin Cash is gathering a string of positive news, the latest and biggest being that CME partner, Crypto Facilities has added Bitcoin Cash (BCH) to its list of futures products. Since the news surfaced Bitcoin Cash, the fourth largest cryptocurrency by market cap has been up in the greens.
Bitcoin Cash Futures launched
Crypto Facilities, a world-leading cryptocurrency trading platform, and partner to CME group on its first-of-its-kind Bitcoin futures in December 2017, made an official announcement that it would be offering the first BitcoinCash-Dollar (BCH/USD) futures starting Friday 17th August. This move would allow investors and traders to take a long or short position in Bitcoin Cash and will allow them to broaden investment opportunities and hedge risk more effectively. This move also expands Crypto Facilities’ derivatives offering, which already includes Bitcoin, Ripple XRP, Ether and Litecoin futures.
Sharing the news Timo Schlaefer, CEO of Crypto Facilities, said:
“We are pleased to be expanding our cryptocurrency derivatives offering with the launch of BitcoinCash futures. BCH is a top five coin with a market capitalization of around $10 billion* and we expect our new contracts to spur the evolution of the crypto markets by bringing greater liquidity and transparency to the digital asset class.”
All eyes on BCH as users, miners and prominent personalities show interest
All the news began with Vitalik’s interview to Forbes, where he mentioned that he would want to use Bitcoin Cash at a convenience store across the street backing the cryptocurrency and asking regulators to allow him to do that.
“I want to be able to walk into a convenience store, get a card and pay a small fee to start using Bitcoin Cash”,
It’s not just Vitalik, Bitmain, one of the largest crypto mining hardware providers, also has faith in the BTC fork and it may be holding one of the biggest stashes of Bitcoin Cash (BCH). The data released as part of the IPO filing showed that Bitmain may have a special interest in the first and most contentious Bitcoin fork currently holding over USD 500 million worth of BCH, the largest among its crypto holdings. The other coins that Bitmain has, includes USD 132 million worth of BTC, USD 47 million worth of Litecoins, USD 43 million worth of DASH and USD 288K worth of Ethereum.
Bitmain holds more Bitcoin Cash (1,021,316) than Satoshi Nakamoto as of March 31, 2018. 🤯
In USD, Bitmain owns:
$500M of BCH
$132M of BTC
$47M of LTC
$43M of DASH
$288K of ETH
Whatever your opinion of BCH, these numbers are mind-blowing. pic.twitter.com/KVCGGdhjO9
— Kevin Rooke (@kerooke) August 14, 2018
It’s not just experts and investors, the real world also seems to be liking Bitcoin Cash over other cryptocurrencies. In the latest edition bulletin update of Bitcoin.com – Official Channel, Roger Ver, famously known as Bitcoin Jesus and the face of Bitcoin Cash [BCH] reported that Bitcoin Cash will hit ‘tens of thousands of convenience stores’ in Japan. He had shared a similar update in June 2018 when he had said that while he was talking about Bitek, a BCH to Colombian converter. He went on to say:
“I didn’t post it or talk about it publically yet but we just had a meeting over this week; Bitcoin Cash is coming to tens of thousands of convenient stores in Japan and you’ll be able to buy anything in the entire convenient store with Bitcoin Cash which means including like paying your electric bill”
The same bulletin also stated that Fivebucks.com, a freelancer’s marketplace that allows people to purchase and sell services for only $5, has started accepting Bitcoin Cash giving the cryptocurrency a definite use case.
As BCH developments look really progressive and key players such as Bitmain and Vitalik backing it, the coin definitely seems to have a bright future. And Now with the Futures derivatives of BCH launched, it is definitely would be a preferred investment option for many.