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Altcoins, not Bitcoin will harbour more value by 2020, claims Bitcoin.com’s Stefan Rust

Biraajmaan Tamuly

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Source: Pixabay

Roger Ver aka Bitcoin Jesus was in the news recently after he left his position as CEO of Bitcoin.com and appointed Stefan Rust, who was formerly the Global Head of Corporate and Business Development at the company. Bitcoin.com has also witnessed an array of developments of late, starting from the launch of its native cryptocurrency exchange to its recent partnership with HTC to add BCH support on HTC’s blockchain smartphone.

Newly-appointed CEO Stefan Rust addressed this partnership in a recent Ask Me Anything [AMA] session. Rust asserted that the collaboration has given the opportunity of having a bank on the HTC Exodus 1 smartphone. The blockchain smartphone will be pre-equipped with a wallet application and will be the first smartphone to support BCH. Rust added that the HTC partnership would stimulate the growth of BCH as a payment medium.

Several crypto-analysts have been vouching for a surge in the price of Bitcoin towards the end of this year. However, Rust believes that by 2020, there would be an increase in the adoption of other cryptocurrencies. He also asserted that more value would emerge from altcoins and not Bitcoin. He said,

“The main reason is if you are transacting building commercial services on chain, you are actually driving more value for the chain and ultimately building utility for that service, which people want to transact around in a trustless, borderless environment.”

Rust further highlighted the fact that altcoins are particularly attractive as they can be used across several fields.

Bitcoin.com’s David Shin had a while back said that the company is focusing on accelerating the market cap of BCH, while also revealing that the company is planning to launch a futures contract for the coin. Rust reiterated the same in his AMA, stating that the goals of the company revolve around pushing BCH into the top three of the world’s largest cryptocurrencies by market cap by next year.

Further, Rust spoke about the potential ban on cryptocurrencies by the United States. According to Rust, the United States would be at a “detriment,” if it banned crypto. He went on to highlight how innovation is paving the way to the creation of jobs, which is one of the most important necessities of any economy.

Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.