USA – McAfee Sure Bitcoin will Reach $1M in 2020
The controversial antivirus mogul stands behind his wild speculation
John McAfee, the controversial, anti-virus mogul, was never a conservative man. The tech pioneer, who founded and made a fortune off the successful anti-virus software bearing his name, has been accused of various crimes (from drug and gun possession to sex crimes) in numerous countries over the years and has been believed by many to have lost his mind.
However, very few people in the world have his understanding and expertise when it comes to technology in general and the internet is his bread and butter. He was one of the biggest names to get involved in cryptocurrency and with his credentials, when he makes an assessment, as odd as it may sound – experts and investors alike tend to pay close attention. In a recent interview he asses
Back in 2017, McAfee made a bold – some would argue absurd – prediction that bitcoin prices will hit the price of $1 million per unit in 2020. He explained the rationale behind the prediction on the limited availability of bitcoins, which has a capped supply of 21 million, and his logic. The years have gone by and McAfee does not seem to back out of his prediction. “Let’s get real, there are only 21 million bitcoins” said McAfee in an interview held in September “7 million of which have been lost forever, and then if Satoshi (bitcoin’s mysterious creator) is dead add a few more millions”.
At the time of his original prediction, the price of bitcoin has been around $4000, the fluctuations of value has led the value to be more than double that today (around $8100), but still far from his prediction. Many bitcoins early buyers have been careless with the currency, some claiming to have lost storage devices with thousands of bitcoins on them and it is widely believed the mysterious and so far anonymous Satoshi – whoever he may really be – stashed away thousands if not millions of bitcoins. But the number of bitcoins in circulation remains unknown. This led McAfee to believe the prices will continue rising, sharply, before long. “In any case, just run some numbers” McAfee said “If bitcoin gets to be 5% of world financial transactions, which you all know it will … then bitcoin would be worth 10$ million per coin based on those numbers. I’m just a conservative man, I said one (million USD) and I’m sticking to it”.
Well, bitcoin investors and enthusiasts – you heard the man! If he has got it even half right, things are going to get real good, real soon.