Outspoken John McAfee has made the bold claim that Bitcoin will be worth $1 mln by 2020.
John McAfee, founder of McAfee Associates a well-known software company has always been Bullish on Bitcoin, in fact, he has even been confrontational on the fact.
In July, with a lot of fear and uncertainty surrounding Bitcoin ahead of its Aug. 1 chain split, McAfee came forward and stated boldly that he was willing to stake his name and up to $10 mln on a bet that the Bitcoin price will move above $500,000 within three years or he would “eat my d**k on national television.”
That prediction was seen as ludacris at the time, and many were left wondering how his on-screen promise would play out – however, now that Bitcoin has crossed $11,000, McAfee is not sitting back smugly, but rather raising the bar.
The outspoken tech mogul has now said:
“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 Bitcoin at $1 mln by the end of 2020. I will still eat my dick if wrong.”
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
With the feeling being that Bitcoin has truly crossed the mainstream adoption threshold, and the dam wall has broken, many big-name players have lent their thoughts to a predicted target.
Ronnie Moas, famed stock picker, has tried to remain ahead of the curve, changing his prediction three times in the month of November already. He began at $11,000 for the new year but then changed it to $14,000, before now settling on $20,000 for a split-adjusted price.
Tom Lee, much more cautiously, said:
“Bitcoin fell to $5,600 and since then rebounded. In our view, this move to $5,600 cleaned up weak hands and we no longer feel caution is warranted. … We recommend steady buying of Bitcoin at these levels.”
He went on to predict 40 percent growth in seven months, but in all reality, Bitcoin fell short $200 of his $11,500 target this week.
Max Keiser is another one who has made a big and bold prediction, although it is only one-tenth of McAfee as he says Bitcoin at $100,000 is an eventuality.
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Author: Darryn Pollock