John McAfee Holds Firm to His Prediction of $1 Million per Bitcoin by 2020
Cryptocurrency pundit John McAfee still believes the bitcoin market is heading for a major boom despite the current slump in prices. Speaking to Newsweek, he reaffirmed his prediction that a single bitcoin will trade at $1 million by the end of 2020.
Last year, John McAfee claimed BTC will be trading at $500,000 by the end of 2020 before doubling his prediction at pace with the rate bitcoin was growing, claiming absolute confidence in his forecast in no uncertain terms.
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong. pic.twitter.com/WVx3E71nyD
— John McAfee (@officialmcafee) November 29, 2017
McAfee notes that while there have been several claims that Bitcoin is a bubble waiting to burst, this digital asset have survived wild price fluctuations, each of which was warned to be the end. McAfee predicts that by 2020, “two things will happen: bitcoin will continue to grow, and the U.S. dollar and other fiat currencies will devalue.”
McAfee has been a stalwart defender of his positive vision for the future of cryptocurrency, including his recently cosigned BitFi wallet which might have been hacked despite his claims that it is “unhackable”.
While many cryptocurrency investors would want to believe these predictions, it will be best to take McAfee’s optimism with a grain of bath salt, as he is currently residing in Guatemala following his refusal to be questioned about his murdered neighbor.