Speaking to Newsweek, John McAfee reaffirmed his prediction that a single bitcoin will trade at $1 million by the end of 2020 in the midst of a tanking bitcoin price.
Last year, John McAfee claimed BTC will be trading at $500,000 by the end of 2020 before doubling his prediction at pace with the rate bitcoin was growing, claiming absolute confidence in his forecast in no uncertain terms.
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
McAfee notes that while many claim that cryptocurrency is a bubble waiting to burst, cryptocurrencies have already survived wild price fluxuations, each of which was warned to be the end. McAfee predicts that by 2020, “two things will happen: bitcoin will continue to grow, and the U.S. dollar and other fiat currencies will devalue.”
McAfee has been a stalwart defender of his positive vision for the future of cryptocurrency, including his recently cosigned BitFi wallet, of which McAffee may or may not be the CEO, and which may or may not have been hacked despite his protestations it is unhackable.