The eccentric cryptocurrency enthusiast and the founder of one of the first antivirus companies, John McAfee, once again confirmed his opinion about Bitcoin for a million dollars by 2020. According to his comments, this is a very conservative forecast.
Despite the significant market downturn and bitcoin prices, McAfee remains calm and optimistic about his prediction.
“It’s simple – I’m a mathematician. When you look at the numbers, the number of Bitcoin users and the number of transactions, they grow at a tremendous pace. And this is really what matters. The real cost will be determined by use and, if you look at the number of users, a million dollars by the end of 2020 is even a conservative forecast,” according the pioneer of the antivirus industry.
McAfee also expressed his opinion about the traditional financial system, according to which it worked well in the past, but today it is no longer suitable for use. He noted that a financial system that allows inflation or deflation of currencies to occur puts an end to real freedom.
“The more people will use cryptocurrencies, the more they will move away from fiat funds, and therefore reduce their value. Fiat currencies will be alive for another five years,” said John McAfee.
Interestingly, if his forecast of a significant devaluation of fiat currencies comes true, the purchasing power of $1 million will also noticeably decrease. And cryptocurrencies, on the contrary, will be appreciated more and more.
Recall that earlier, a well-respected Bitcoin and crypto researcher Willy Woo announced that every 12 months the number of Bitcoin users is doubled.
Recently, venture investor Tim Draper confirmed his forecast of the rise in the price of Bitcoin to $250,000. Forecasts on the price of the first cryptocurrency are quite popular, but most analysts expect a gradual increase in assets.