News

McAfee says $2m per BTC by the end of 2020

Well known crypto advocate John McAfee has once again emphasised his $1m BTC prediction for the end of 2020. He has now in fact stated that next year will not only see the space “explode”, but Bitcoin’s price will hit $2m, purely based on mathematics.

In a recent interview McAfee outlined that everyday, thousands (if not millions) worth of dollars in Bitcoin are lost simply due to people’s “stupidity”. He added that Bitcoin has an “eternally diminishing supply, with an eternally increasing supply“, an aspect that is not only true, but very rare for comparable scarce assets.

“Let’s get real, there are only 21 million bitcoins. Seven million of which have been lost forever, and then, if Satoshi is dead, add a few more million.”

One of the major reasons as to why crypto isn’t used daily by the masses is due to the complicated nature of current interfaces. McAfee also outlines 2020 as the year that “a 3 year-old could figure out in a couple of days” how to access the blockchain and cryptocurrency. This includes the development of decentralised exchanges, including his own McAfeeDex platform.

While McAfee’s new prediction of $2m seems highly optimistic at the very best, his outlining that the fundamental progress made in the space in 2019, should see at least some positive reflection in technicals in 2020.

About the author

Maria Wilson

Maria Wilson

Author Maria Wilson writes the weekly “Tech Talk” column about technology, scams, and security risks which pose a threat to Chester Report. She manages the circulation of both papers, as well as legal and classifieds advertising.

Add Comment

Click here to post a comment

About Us

Chester Report is an all-in-one news website that covers everything you want to know from yesterday. We include news reports from areas such as science, technology, science, and medicine, not restricting to any of them. Our reporting team also considers valued opinions from hybrid categories.