Will the Bitcoin Price reach $1 Million
That’s what John McAfee believes each bitcoin will be worth by the end of next year.
And McAfee better be right, because if the bitcoin price isn’t at that level in the next 20 months, he will have to eat his d**K on national television :-)
Well, that’s what he had said three years ago when he first claimed that the bitcoin price was going to $500,000 by the end of 2020, before doubling down on his projection a few months later. With his manhood on the line, it is not surprising to see that John McAfee keeps trying to tell us to value bitcoin the correct way ^^
John Mcafee: We Don’t Value Bitcoin Right
John McAfee uses every positive bitcoin price forecast to parrot his own $1 million target, telling Twitterverse that anyone not buying into his price target is “stupid.”
There is resistence to my Bitcoin price prediction. It is because people are applying the paradigm of the traditional stock market formulas to the crypto market. Only an idiot could miss the fact that the crypto market is a brand new paradigm unto itself . Are we all that stupid?
This is the second time in less than a month when McAfee is telling us why bitcoin will definitely hit the million dollar mark by 2020.
McAfee says that it is “mathematically impossible” for bitcoin to be valued at less than $1 million by the end of the decade, though he doesn’t get into the specifics of how he has arrived at that number. He, however, does keep on saying that the market is wrong in valuing the bitcoin price based on the stock market’s fundamentals.
Of course, he is right in that regard because unlike stocks that represent a unit of ownership in a traded company, bitcoin is a digital currency that’s meant to carry out transactions. But the massive volatility in the bitcoin price has given birth to an army of skeptics who have reduced it to speculative investment, believing that it cannot be a store of value.
However, that mindset seems to be changing now, bringing new bitcoin buyers into the crypto ecosystem that could move the needle in McAfee’s favor. But will that be enough to push the bitcoin price to $1 million in a matter of around 20 months?