This piece is a tribute to John McAfee for famously tweeting that he will eat his dick on live tv if the Bitcoin price does not reach $1 million by the end of 2020.
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
Although McAfee’s previous Bitcoin price prediction for 2020 was $500,000, he changed his prediction based on the fact that he was using a model which predicted Bitcoin’s value to be just $5,000 at the end of 2017. It was much higher than $5,000 at the end of 2017.. in fact more than double that.
Bitcoin or Bitcoin and other Bitcoin Forks?
Since McAfee is a strong supporter of Bitcoin Cash (BCH) and he has stated that he believes BTC and BCH will ultimately fight a war for the “Bitcoin” name, some speculate his prediction includes Bitcoin and all Bitcoin forks.
In my opinion, Bitcoin can reach $1 Million and also not retain the dominance is has today at over 40%. There is so much potential for cryptocurrencies over the next couple of years, that a roughly 100X increase in any single coin’s price is not hard to fathom.
Props to McAfee for Bolstering Crypto Confidence
In any case, whether McAfee was referring to only “Bitcoin Core” or Bitcoin and all Bitcoin forks, this prediction is a bullish one and helps bolster confidence in the cryptocurrency space.
Way to put it on the line for the pump, McAfee. Well done.
Hold On for Dear Life