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    SBI Present Had Planned To Promote Bitcoin Cash

    SBI Present Had Planned To Promote Bitcoin Cash

    SBI, a Japanese finance company, was going to promote Bitcoin Cash – but opted not to. The company’s president, Yoshitaka Kitao, revealed that he decided otherwise because of a contentious hard fork that split Bitcoin Cash into Bitcoin SV and Bitcoin SVC. He stated in a YouTube video,

    “he is not a fan of cryptocurrencies that regularly forks.”

    He continued therein,

    “Coins that frequently hard fork are ridiculous. I was going to promote BCH, but Jihan and Craig ended up fighting, and ABC and SV were born. Jihan side won and inherited the name BCH, but I decided to quit both. This caused the market cap for both coins to fall.”

    He also added that he would have promoted Bitcoin Cash prior to the hard fork. However, the distance between former Bitmain CEO Jihan Wu and Craig Wright had altered his position. He may have made the right decision, in retrospect because, after the split, Bitcoin Cash decreased by 50% and began trading in parity with Bitcoin SV.

    Due to the controversy concerning Calvin Ayre and Craig Wright, Bitcoin SV stopped trading on several exchanges, such as Kraken, ShapeShift, and Binance.

    SBI Finance’s decision is a big one, especially because Japan has been moving toward adoption, all the while being mindful of regulations, while also protecting customers. The good news is that even with the decision to forgo Bitcoin Cash, the platform still supports Ripple (XRP) as they take the position that its large customer base worldwide would accept Ripple. The company also revealed last month that it has gotten a new subsidiary to manufacture crypto mining systems and chips, which shows its move toward digital currencies.

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    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

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