John McAfee: only idiots believe in the growth of Bitcoin to $ 1 million

06/01/2020

Alex Kondratyuk

Famous EntrepreneurJohn McAfee has given up on his Bitcoin price prediction. He called people who believe that the value of BTC will rise to $ 1 million as idiots.

In 2017, McAfee promised to eat his ownpenis, if the price of bitcoin does not reach $ 500 thousand by the end of 2020. He later raised the rate to $ 1 million. Since then, the entrepreneur has actively supported his words, but in January this year he suddenly called bitcoin "a real shieldcoin."

Now that there are exactly six months left until the end of 2020, McAfee has publicly abandoned his predictions:

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“I am the one who predicted that bitcoin is the mostcurve cryptotechnology, will grow to $ 1 million. Are you one of those who did not see absurd humor in this? I posted this the same day I predicted whale sex would become the most popular water sport instead of surfing. Wake up! "

In the next tweet, he tried to explain why Bitcoin will never rise in price to the declared values.

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“If Bitcoin ever reaches $ 1 million, it willcapitalization will exceed the GDP of all of North America. What idiot can believe this? Sex with whales is a thousand times more likely to enter the Olympic program. "

The entrepreneur did not specify what dataused in his calculations. With a market value of Bitcoin of $ 1 million, its capitalization would be $ 18.5 trillion. According to the World Bank, the US GDP exceeds $ 20.5 trillion, with another $ 1.7 trillion and $ 1.2 trillion in Canada and Mexico, respectively. The total GDP of these countries is $ 23.4 trillion.

Even if we take into account all the 21 million BTC available for mining and the coins lost forever, the capitalization of bitcoin with a market value of $ 1 million will not exceed the GDP of North America.

US GDP for 2018. Source: World Bank

Renowned Bitcoin maximalist Giacomo Zucco asked McAfee if he was ready to eat his penis if Bitcoin did grow to $ 1 million. His comment received the most likes:

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In early January, McAfee hinted that he would not eat his penis.

In April, he announced the launch of his own cryptocurrency focused on anonymity.