John McAfee predicts Bitcoin will be worth $1 million by 2020
The founder of the eponymously named security software, McAfee has something of reputation for backing the volatile cryptocurrency with outrageous comments. McAfee, of course, has a vested interest in stoking demand. He runs MGT Capital Investments MGTI, -5.83% which bills itself as being “positioned to become the pre-eminent crypto-mining enterprise in the United States.
Earlier this year, the US native signified his faith in the cryptocurrency by proposing a similar forfeit, stating he would eat his own penis on national television if bitcoin did not reach $500k within three years.
With bitcoin recently smashing the $10,000 landmark on South Korea’s cryptocurrency exchange and news of its rise to $11,000 on Wednesday, McAfee appears to have become even more spirited. He has now raised the bet, waging his genitals against bitcoin growing to $1 million by 2020.
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