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A proposed bitcoin cash development fund could give the digital currency more value, says crypto trader Brian Kelly. Potential investors met this past Saturday.
Bitcoin cash has surged in the last month, from around $760 in April to more than $1,200 in May.
In the fund, miners are "going to take some of the rewards they get from mining and put it in a fund to build stuff on top of bitcoin cash," Kelly said on "Fast Money."
"That's how blockchains gain value," he added. "You're going to be getting more use cases to the extent that usefulness translates into value. That could be a positive for bitcoin cash."
"That's a place I want to buy," said Kelly, who is founder and CEO of BKCM, an investment firm focused on digital currencies.
Trader sees bitcoin cash breaking out, here's why from CNBC.
