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True Value Of Bitcoin (BTC) is increasing tremendously
John McAfee, a well-known tech-centric entrepreneur who became an irreducible crypt, recently sat down with CoinTelegraph in an exclusive interview to discuss his views on the current state of cryptography. Interestingly, even if prices stagnate and remain 72% below the infamous "McAfee Dick Line", the eccentric crypt savant has kept his thought that Bitcoin (BTC) will somehow exceed $ 1 million in 2020, just 18 months away.
At the end of the interview, Cointelegraph's interviewer posed a difficult question, asking McAfee how to make a forecast for the future value of BTC.
Looking ready to answer that question, McAfee noted that it is "simple", touching on the fact that the growing number of transactions and individuals using the Bitcoin network indicate that the true value of BTC is "increasing enormously".
Just a few days ago, Ethereum World News reported that Diar, one of the major cryptographic newsletter publications, noted that the number of chain-linked BTC transactions in the third quarter exceeded a quarter since the beginning of the year, eliminating the first quarter from a relatively single 70,000 transactions. The Diar authors also revealed that the BTC transaction counts have increased by about 3-5% in the last nine months from month to month, making McAfee's claims even more valid.
McAfee, the creator of the cyber security giant who shares his name, then added that investors should not be confused by the short-term bearish trend of the encrypted market, as he stressed that "artificial pressures" have created only one problem " temporary "to encrypt resources.
And as such, adopting a forward-looking approach, McAfee said that "we keep track of the usage curve [of Bitcoin]"$ 1 million for BTC by 2020 (its original forecast) is conservative, adding that eventually, BTC will be assessed by its use, not by speculative factors and investors.
However, McAfee, bringing a fleeting sense of skepticism to its prediction, has briefly noted that the real value of $ 1 million could be drastically different from the current one due to the hyperinflation of fiat or other global fiscal problems.
"Fiat is on its last legs"
Remaining in line with its inflammatory ideas, which some see as anarcho-capitalist, McAfee has spoken about the importance of cryptocurrencies and blockchain technologies in general.
He explained that as it is, the financial system in general is controlled by centralized bodies and institutions, such as the government, the FED and, in short, the powers that are. Although this system has worked in the eyes of some, for many today, the ability of centralized authorities to inflate or deflate legal circulation or increase interest rates means that "we are not free".
And as such, with the arrival of promising cryptocurrency networks, the British-American business business added that in five years "you will begin to see the collapse of the Fiat", which means that the world's financial ecosystem it can only fleetingly use the future.
Title Image Courtesy of Andre Francois via Unsplash
