No, Bitcoin Cash isn’t new. It arrived on the scene back in August. (Its origin story is kind of complicated — luckily, we’ve got a helpful explainer here.) But the addition of Coinbase support is like a blessing from the Cryptocurrency Pope, and so Bitcoin Cash’s value ascended into the heavens.
If you happened to have knowledge of Coinbase’s announcement ahead of time, you could have made a pretty penny, which is why the company quickly tried to quell any accusations of insider trading.
Coinbase maintains a strict trading policy and internal guidelines for employees. Coinbase employees have been prohibited from trading in Bitcoin Cash for several weeks.
— Coinbase (@coinbase) December 20, 2017
Yesterday, Bitcoin Cash was valued at $3,108, up from just over $2,000 a day earlier. So If you owned Bitcoin on the date of the “hard fork” on Aug. 1, you also now own Bitcoin Cash. Congratulations.