John McAfee, an eccentric cryptocurrency advocate, and British-American entrepreneur, in a tweet, called his own previous prediction of Bitcoin price hitting $1 million by the end of this year a total “nonsense” adding that people who believed his “absurd” forecast should “wake up.” He went on to explain why bitcoin can not reach 1$ million, and he reasoned that if Bitcoin ever hit $1 million, it’s market cap would be higher than the GDP of the entire North American Continent.
McAfee labeled bitcoin as the most crippled crypto technology.
John McAfee is a controversial figure in the tech industry who has been around for a long time. In his recent tweet, McAfee labeled Bitcoin as “the most crippled” crypto technology. This is not the first time he has said something like that referring to the leading cryptocurrency. Earlier this year, he described Bitcoin as “ancient” tech, and his prediction on the price going to $1 million was simply his trick to lure new users into crypto space.
McAfee has been vocal about privacy-focused cryptocurrencies in the recent past. He believes that different types of cryptocurrencies have different uses and different features. Recently, McAfee introduced his own privacy-focused coin called Ghost, and he’s convinced that both his coin and another new cryptocurrency called HEX could attract more people into crypto than bitcoin has.
Put a different way:
If Bitcoin ever hit $1 mil, it's market cap would be greater than the GDP of the entire North American Continent.
What idiot could believe such nonsense?
Whale Fucking is a thousand times more likely to make its way onto the Olympics Stage.
— John McAfee (@officialmcafee) May 30, 2020
Tim Draper sticks to his ambitious bitcoin prediction.
John McAfee is not the only one who had made an ambitious prediction about the bitcoin’s price in the coming years. Tim Draper, the well-known billionaire investor, is firm on his highly bullish prediction about the price of bitcoin. The investor believes the leading cryptocurrency will reach $250,000 in the next three years. He believes there are several factors that could help the BTC’s price reach $250,000 by 2023. The billionaire venture capitalist expects bitcoin payments to see massive commercial adoption over the next three years, as he believes that the retailers would realize that they can accept crypto payments and save money on credit card fees.