Megaupload owner, Kim Dotcom, announced via twitter account information about his new venture. It is no secret that the ‘business’ man is working in a new cloud storage service. The German-Finnish entrepreneur revealed however, that is working on a couple of projects known as Bitcache and MegaNet.

Every Megaupload file transfer will be linked to a tiny Bitcoin micro transaction. Get ready for Bitcache.

The details of this integration haven’t been disclosed, however, one could assume that Bitcache is a network where users can pay for files using Bitcoin. This announcement caused quite the effect in social media, as several users claimed that Bitcoin network is severely hindered as it is –due to the block size problem, as Bitcoin blocks tend to be full, delaying transactions, so the introduction of this service will undermine it even more. In light of those concerns, Kim said:

The ‘cache’ in Bitcache solves the problem. It eliminates all blockchain limitations. Wait for it 🙂

January 2017 is the date where all these details will be unveiled, along with the release of Megaupload 2.0. The entrepreneur is currently residing in New Zealand, where he is fighting extradition to the United States, the country is accusing Kim of several charges, including copyright infringement, conspiracy, money laundering and racketeering.

Dotcom also advised all his followers to buy bitcoins “while they are cheap”, going as far as to predict that the cryptocurrency will be valued at $2000 per unit by 2017. Only time will tell if Kim Dotcom’s flamboyant comments and predictions will play out. There also skepticism about Bitcache’s miracle technology to solve Bitcoin scalability issues.

Image via Hannah Johnston/Getty Images.

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