Bitcoin News Today – Bitcoin has had many proponents since its emergence. If you were to compile a list of Bitcoin’s most prominent proponents, John McAfee would make it to the top of the list. When Bitcoin skyrocketed in 2017, McAfee shared a message, claiming that he then believed the price of BTC would hit $1M by the end of 2020. He also went ahead to say that he would eat on national TV if the price target of the digital currency was not hit.
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
While many did not take him seriously, the creator of the cybersecurity company, McAfee, has continued to double down on his stance for the digital currency over the years. In an interview with Forbes late last year, McAfee said that he believes the price of Bitcoin will surpass $1 million per coin due to the scarcity of the coin.
“Let’s get real, there are only 21 million bitcoins. Seven million of which have been lost forever, and then, if Satoshi [bitcoin’s anonymous creator] is dead, add a few more million.”
Bitcoin (BTC) Price Today – BTC / USD
After being bullish on the coin, McAfee has begun to bash the digital currency. Rather, he is touting altcoins that he believes can perform the job of a private and decentralized digital currency better. He also went ahead to backtrack on his prediction, saying it is a “ruse to onboard new users” in reference to the enormous attention his price target drew.
On April 4, McAfee published another message to make himself clear again. He said that he thinks Bitcoin is worthless, regardless of his long-standing statements that the scarcity of the digital currency would significantly push its price higher. McAfee did not just stop there; he also listed three altcoins that he believes would replace Bitcoin (BTC).
The three altcoins he pointed to are the DAI stablecoin, Ethereum (ETH), and Monero [XMR]. He further explained that Monero [XMR] is “widely used among tens of thousands of us that no longer use credit cards, paper currency or bank.” The enigmatic technology entrepreneur said that Bitcoin is an ancient technology, comparing the first blockchain to the Model T of automobiles.
Bitcoin (BTC) has seen a considerable change in price over the past twenty-four hours. The bulls have been able to push the price of the digital currency over the $7,000 mark. The immediate hurdle for the digital currency is close to the $7,200 mark, while it is currently supported by the $7k mark.