The promoter of crypto John McAfee is still positive in the strength of globes top leading cryptocurrency, Bitcoin. He thinks that the coin deserves to be crowned as the number one virtual asset in the crypto space.
John McAfee is a member of the CoinsBank Blockchain Cruise and when speaking to AMBCrypto, he said that Bitcoin is the only leader in its ecosystem. However, he did argue with those who claim about the coins nature as a P2P digital cash protocol.
As one of the most famous names in the crypto world, McAfee has a big influence on traders and his comments and recommendations are almost a must follow for investors.
McAfee has recently stated that in at least to years time, by 2020, Bitcoin’s price should reach a million dollars, but that is if you look at it from a mathematical view point. This detail comes from the ever growing records of the amount of Bitcoin that is mined and the difficult process it involves. With this in mind, the crypto mogul came to the point that in the near future the number of BTC allocated per each new mined block would decline by half.
“Why don’t we look at the last Bitcoin? We have thousands of people to mine one coin. What is that coin going to be worth? Maybe billions. Mathematics doesn’t lie. Say what you want, mathematics doesn’t lie. If it’s not a million dollars in 2020, it has to be. The end of 2020, December. That’s my prediction, I’m going to stand by it… it is the number 1 coin for processing transactions. Run the numbers.”
McAfee also went onto say that mining for Bitcoin is highly profitable. He also goes onto to say there isn’t anything to lose when mining:
“No matter what the price of Bitcoin, you cannot lose money by mining Bitcoin. Let’s say the price drops to $2000, everybody gets out, and the difficulty rate drops to zero, and you’re cranking out millions of coins per day.”
John McAfee will appear at the Blockchain Summit 2018 in Malta as a key speaker which takes part on 1st - 2nd November this year.
What are your thoughts? Where do you see Bitcoin going in the next two years? We’d love to hear your thoughts down in the comments below!