Bitcoin Cash gains slightly after Roger Ver's bail from Spanish prison

Bitcoin Cash (BCH) saw a 2% gain on Thursday following proponent Roger Ver's bail from a Spanish prison, according to a Bloomberg report.

Bitcoin Cash gains strength following Roger Ver's release

Roger Ver, popularly known as Bitcoin Jesus, was reported to have been granted bail from a Spanish prison on Thursday, according to Bloomberg. Although released on bail, Ver still faces extradition to the US on email fraud and tax evasion charges.

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Roger Ver was originally arrested by Spanish authorities in April after news of his indictment on counts of tax evasion, mail fraud, and falsified tax records. He was later allowed to leave jail on May 17 after paying $163,000, on the condition that he doesn't leave Spain, surrender his passport, and appear in Court every two days.

Following the news of his release, Ver faces charges from the US Justice Department and may be facing 20+ years in prison based on the accusations leveled against him. Roger Ver renounced his US citizenship in 2014 and was alleged to have evaded at least $48 million in tax payments.

His recent release has positively impacted Bitcoin Cash's (BCH) price as he's a major proponent of the cryptocurrency. BCH saw a slight gain of 2% after news of Ver's release but has quickly retraced.

Read more: Bitcoin Cash price adds nearly 15% gains after halving

BCH had earlier experienced a 14% surge to a 2-year high of $700 following its successful halving event on April 3.

The future price move of BCH may hang on whether Roger Ver is found guilty or not.