- John McAfee said Bitcoin is an old, tired, and worthless coin
- McAfee backtracks on this bullish Bitcoin price prediction of $1 million
- McAfee reaffirms his bet for Bitcoin to hit $500k by the end of 2020
Bitcoin News Today – In a recent tweet, John McAfee said that he never believed BTC would hit $1 million. This is a huge backtrack from his previous Bitcoin price prediction. Back in July 2017, he said that he would “eat his own d**k” if the price of the digital currency does not hit the $500k mark within three years.
For the past few months, the digital currency has been hovering around the $9k mark, and it is currently trading around the $9,200 mark. For Bitcoin to meet up with the prediction of McAfee, it needs to increase by more than 5,300 percent.
Bitcoin (BTC) Price Today – BTC / USD
John McAfee Backtracks on His Bullish Bitcoin Price Prediction
Over the past three years, the price of Bitcoin surged nowhere close to $500k. McAfee is now seemingly backtracking on his bullish Bitcoin price prediction of $1 million. Last year, he said that he believes the price of Bitcoin will break over $1 million. McAfee said negativity around the digital currency market was excessive. On July 19, 2020, McAfee said:
“Not going to get out of it. I never believed Bitcoin would hit $1 mil. It is absurd. It is an old, tired, worthless coin. I just wanted to eat my d**k on TV. Wait for it.”
Since the second quarter of 2019, Bitcoin’s price plunged from around $13,900 to $9,100. After the plunge of 34 percent in a period of 12 months, McAfee no longer feels confident about his Bitcoin price prediction of $1m. In a recent tweet, he said:
“Bitcoin is at the mid 10’s and people worry. LMFAO!! Why do you pay attention to weekly fluctuations? Look at the past few months FFS! It’s rising drastically. I’m still positive about my $1 mil BTC price by the end of 2020. Altcoins like MTC and Apollo will rise ten times more.”
McAfee Promises to Follow with His $500k Bitcoin Price Prediction by Dec. 31
From his tweet, it appears that he was referring to the end of this year as the prediction date for $500k. Several digital currency buffs questioned him about the subject and he responded by pointing them to a website. He said that it was well documented that his bet was for December 31, 2020, and he reaffirmed that he will follow through his bet if the digital currency does not hit $500k by then. He said:
“It’s well documented that I will eat my d**k on Dec 31st, 2020, not in July of this year. Google the bet. The ‘In three years’ was a reference to that date. The originator of this tweet did not research it. Will I eat it? You bet! Myself, or, perhaps, a subcontractor :)”