NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

McAfee Calls His Own $1 Million Bitcoin In 2020 Prediction a “Ruse”

Nick Chong
Nick Chong
1 year ago
2 mins read
Bitcoin BTC

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

If you’ve been following Bitcoin over the past few years, you likely remember John McAfee’s crazy BTC price prediction. As the cryptocurrency market was blowing up in 2017, McAfee, the creator of the cybersecurity company that shares his name, posted the below tweet, claiming that he is betting that Bitcoin will hit $1 million by the end of 2020.

On the line: his family jewels, which McAfee claimed he would eat on national television of the price target was not hit.

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

While many thought he was kidding, he continued to double down on this stance over the years. Late last year, he took an interview with Forbes, in which he stated that he believes BTC will surpass $1 million apiece simply due to the scarcity of the asset:

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

What he’s arguing is that with increased demand for Bitcoin, the ultra scarce nature of the cryptocurrency will lead to a surge in price as there won’t be enough coins being fed into the market at low price points to satisfy demand.

Related Reading: Bitcoin Poised to Collapse Under $5,000? Market Cycle Fractal Suggests So

He continued to tout this line, saying in an interview with AIBCSummit: “Run the f***ing numbers. If Bitcoin is less than $2 million by the end of 2020, then mathematics itself is a flawed disappointment.”

But according to a latest tweet from the crypto promoter and hardline libertarian, this was all a “ruse.” Considering that the original prediction was crazy anyway, is this really surprising?

Bitcoin Price Prediction Just a Ruse

In a tweet published on Sunday, McAfee branded the prediction and his bet “a ruse to onboard new users,” presumably citing the mass media coverage this oddball price target created. He went on to write that he thinks while Bitcoin was the first of the cryptocurrencies, “it’s an ancient technology,” before likening the first blockchain to the Model T of automobiles.

Eat my dick in 12 months?

A ruse to onboard new users. It worked.

Bitcoin was first. It's an ancient technology. All know it.

Newer blockchains have privacy, smart contracts, distributed apps and more.

Bitcoin is our future?

Was the Model T the future of the automobile?

— John McAfee (@officialmcafee) January 5, 2020

McAfee concluded by noting that newer blockchains, be it Ethereum or Monero, have privacy features, smart contracts, distributed apps, and more, seemingly pointing to the sentiment that Bitcoin’s purpose as digital money for the internet is a shortfall.

Related Reading: This Scary Fractal Suggests Bitcoin Price Is On Its Way to $3,000
Featured Image from Shutterstock
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Bulls In Cloud 9? Analyst Identifies Where Risk Lies

After a near-excellent start to the month of July, Bitcoin has performed even more impressively over the past few days. The...

Opeyemi Sule 10 hours ago
Bitcoin

Bitcoin Price Break Above $118,000 Just The Start, Analyst Unveils ‘Golden Number’

Bitcoin has rallied massively over the past seven days by posting an impressive price gain of nearly 9% after climbing...

Scott Matherson 13 hours ago

Pi Network Turns Heads With Symbolic Transfers, $20M Volume Spike

The Pi Network coin dipped to $0.46 today, slipping 6% in the past 24 hours. Yet trading volume jumped to...

Christian Encila 15 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

BTC All-Time High

Crypto expert: Bitcoin bereikt nieuwe ATH van $112k, betekent dit start van altcoin season?

Lars Diederiksen 1 hour ago

Gemini分析比特幣升勢帶動示新牛市周期 Bitcoin Hyper等Layer 2項目引爆關注!

Kelvin Lee 5 hours ago
Cardano price

Cardano Price Explodes 30% In Past Week — Analyst Calls $5 Next Market Top

Opeyemi Sule 6 hours ago

Premium Sponsors

Press Releases

  • ビットコインが11万8,000ドルの最高値を記録する中で注目すべき仮想通貨プレセール

    ...

    14 hours ago
  • 仮想通貨 おすすめ|急騰するDogwifhatとFartcoin、注目の低価格ミームコインとは?

    仮想通貨...

    15 hours ago
  • 新しい仮想通貨価格動向|話題の最新コインの成長可能性

    ...

    15 hours ago
  • アルトコイン注目銘柄|2025年7月第2週に見るべき3銘柄

    ...

    15 hours ago
  • ロビンフッドが1ドルから始めるETHとSOLのステーキングを開始──今注目の仮想通貨投資はこれだ?

    ...

    15 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.