Brian Kelly, a regular on CNBC’s Fast Money program, presented a segment on Monday’s show that focused entirely on Bitcoin Cash (BCH), in which he justified bullish sentiment regarding the valuation of the fourth largest cryptocurrency (by market cap).
On the program, Kelly – who is also the founding CEO of the cryptocurrency and blockchain-centric investment firm BKCM – took to focussing on the development fund recently proposed by the mining community of Bitcoin Cash; identifying it as a potential catalyst for some $BCH buy-side pressure.
Elaborating further, Kelly explained how astute use of these proposed development funds would equate to an increased useability of the Bitcoin hardfork. “Why is that important?” Kelly asked, “because that’s how blockchains gain value. Think about it as an app store, where things are being built on it; the bigger the App Store, the better the app store.”
— CNBC’s Fast Money (@CNBCFastMoney) May 21, 2018
Educating viewers of the CNBC program, Kelly made a point of mentioning that “Bitcoin Cash isn’t the only one with this (development fund), and this is a tactic used by many cryptocurrencies to foster development on the chain.”
Murmurs of CNBC / BCH Relationship Resurface
Kelly’s BCH-centric segment comes after last Thursday saw Ran Neu-Ner declare BCH and Ethereum (ETH) as two cryptocurrencies worth holding, whilst suggesting that both Bitcoin (BTC) and Ripple (XRP) were worthy of selling.
Fast Money’s renewed focus on Bitcoin Cash has seen murmurings resurface with regards to the team behind BCH having influence over what cryptocurrencies the show chooses to discuss (and tweet about).
Indeed, in some commendable investigative work completed last December, the Twitter profile of @WhalePanda shared evidence of a potential link between the CNBC program and Bitcoin Cash (see below).
Paul loves to talk about Bitcoin, BCash and cars. His wife works for CNBC and as marketing manager has control over certain Twitter accounts. So what happens when Someone who is executive director of the Bitcoin Cash fund, takes over control of @CNBCFastMoney twitter account? pic.twitter.com/XY8VQuQHfF
— WhalePanda (@WhalePanda) December 20, 2017
Compounding the feasibility of an alleged link, a Redditor (credit: amorpisseur) then revealed that Wasensteiner’s husband, Paul, was the executive director of The Bitcoin Cash Fund; a London-based initiative that, per his LinkedIn account, exists “to drive adoption and growth of the Bitcoin Cash cryptocurrency, by allowing individuals and businesses to funnel wealth gains back into community-driven and grassroots awareness projects.”
Nothing To See Here
Notably, Kelly was questioned on Monday’s segment whether he was influenced by Bitcoin Cash founder Roger Ver ahead of his BCH-centric presentation, to which he responded, “there’s no connection between me and Roger Ver, or anybody else out there.”
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