John McAfee Predicts $1mln For Bitcoin By 2020
US based controversial crypto enthusiast and entrepreneur John McAfee has forecast a price of $1 million for Bitcoin (BTC) by 2020. After considering the recent Bitcoin price rally, McAfee said July 15 that he was “laughing his f—— ass off” at the extreme negativity:
“Bitcoin is at the mid 10’s and people worry. LMFAO!! Why do you pay attention to weekly fluctuations? Look at the past few months FFS! It’s rising drastically. I’m still positive about my $1 mil BTC price by the end of 2020. Alt coins like MTC and Apollo will rise ten times more.”
At the time of writing this article, Bitcoin had lost 0.8% in the past 24 hours and 7.8% in the last week to trade at $10,550.08. The crypto still trades with a gain of about 20% on m-o-m basis and nearly 100% gain in the past three months.
Notably, Grayscale Investments’ Bitcoin Trust has gained roughly 300% on y-o-y basis and has become the best fund on the basis of performance in the cryptocurrency market.
McAfee forecasted that a decade from now, “there’ll be no fiat anywhere in the world […] everything will be cryptocurrency.”
McAfee, a crypto advocate and a critic of the government, is running the US Presidency campaign. He is presently living in Cuba as an exile because of alleged US income tax evasion.
Interestingly, another Bitcoin advocate Anthony Pompliano, co-founder of Morgan Creek Digital Assets, has recently forecast a price of $100,000 for Bitcoin by the end of 2021.
Contrary to McAfee’s optimistic view of altcoins such as doc.com Token (MTC) and Apollo (APL), Max Keiser, the popular US broadcaster, has forecast that the altcoin era has ended and crypto investments will flow into Bitcoin in the next rally.
Two years before McAfee had stated that he will eat his manhood if Bitcoin does not touch $500,000 by 2020.