Jihan Wu, one of the legendary co-founders of Bitmain, the leading ASIC manufacturer today, is starting to take eCash seriously. While the entrepreneur has been relatively quiet since the Bitmain focused feud with his former co-CEO, Micree Zhan, he appeared on September 28 in Anthony Pompliano’s “The Best Business Show” podcast to talk about the history of Bitmain and his current big companies, Matrixport and BitDeer.
When he was asked about the composition of his portfolio, Wu recognized he held eCash as an important part of his cryptocurrency holdings. Wu stated:
“I hold lots of different coins. I know, Pomp, That you only hold bitcoin. I’m a very different person since I hold lots of coins. The majority of them are Ethereum, Bitcoin, Bitcoin Cash, Litecoin, and XEC, another fork of Bitcoin. There are lots of other coins and defi tokens”
While he did not state anything more about eCash as a currency, the fact that Wu holds it as a part of its portfolio is incredibly bullish for the future of the cryptocurrency, since he believes the currency will appreciate in time as an investment asset. He did declare that he held more Bitcoin Cash than Bitcoin.
Wu also referred to the aftermath of the blocksize war, stating:
“It’s really hard to reach governance or consensus in a purely decentralized crowd. It’s very easy for people to have disagreements that cannot be agreed upon. Lots of people have different opinions than Bitcoin Core developers. Many of them just said “Let’s just go to Ethereum, let’s just start some other blockchain products,” and they are doing great.”
Matrixport Applies eCash Rebranding and Redenomination
As a testament to what Wu stated in the interview, Matrixport, co-founded by Wu, has already applied the redenomination plan to rebrand BCHA to eCash. Matrixport, which was founded back in 2019, during a period that was not the most bullish for the industry, has managed to grow into an important institution that offers cryptocurrency-based financial services for digital nomads. The YouTube interview revealed that Matrixport now manages 10 Billion $USD in assets, with a trading volume of 5-10 Billion $USD a month, depending on the month.
The significance of MatrixPort rebranding BCHA to eCash (XEC) and Jihan Wu mentioning his eCash (XEC) holdings is that it may indicate the company planning to start offering financial services including eCash in its portfolio in the near future. The company already offers BTC, ETH, and BCH-related services that include innovative investment products like Dual Currency, Smart Trend, SharkFin and Best-Buy Fund. It will be great to see eCash XEC included in products like these.
*Link to the video at the correct time (1 hour, 40 minutes and 30 seconds ) https://www.youtube.com/watch?v=xRYPV8odfp8&t=6032s
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