John McAfee recently released an interview in which he reiterated that he would be a presidential candidate in the US elections in 2020. In the same interview, the scrambled supporter stated that the value of the cryptocurrency leader Bitcoin (BTC) would be $ 1 million. for money.
Two other important comments from the interview were that the presidential run of McAfee will be based on the use of the opportunity to triumph over cryptocurrency support and that within five years, blockchain and BTC may have pushed fiat to "his last legs".
The true value of Bitcoin "is intensifying tremendously"
Bitcoin's performance in 2018 was less than tempting, with its stagnant price and a new low from its all-time highs last December.
The top crypto currently remains about 72 percent lower than the $ 20k price then, in the aftermath of which McAfee made its now infamous forecast about the BTC value by 2020.
In July 2017, the entrepreneur and computer security engineer predicted that Bitcoin's growth would reach over $ 1 million. According to a BTC forecast tracker, the forecast is about 72.6% less or 276 days back. So is McAfee losing its bet?
The answer is no, according to McAfee. Speaking with Cointelegraph, the interviewer asked the crypto-dead to explain how he ended up with his prediction on Bitcoin prices.
With nonchalance, suggesting that he was prepared for this type of question. He says that predicting BTC's prices is "simple", before adding that we need to consider only the growing number of transactions to say that the top crypto is gaining traction.
He also added that the increase in the number of people who climb on the Bitcoin network is an indicator of the real value of BTC "a huge growth".
The apparent backup of McAfee is a recent report that shows that chain transactions for BTC have increased in the third quarter. The quarterly numbers on the chain exceeded those of the first quarter, although only 70,000 transactions.
The research also showed that the volumes of BTC transactions reached 315 billion dollars in 2018, not negligible by all standards. With month-to-month transactions even increasing by about 3-5% over the same period, McAfee's claim that the use of BTC is increasing holds some weight, albeit slightly lower.
"Fiat is on its last legs"
Although he remains convinced that Bitcoin will reach $ 1 million, McAfee has noted that the current crypt crisis may have bothered the investor community. He referred to this as "artificial pressures" which is only "temporary".
In fact, he said that monitoring the Bitcoin usage curve makes his forecast for 2020 the best "conservative" currency.
According to him, BTC could be worth much more, as it would derive value from use and not be used as a speculative resource.
Overall, McAfee said that although Bitcoin will exceed the price of one million dollars against the dollar, this value could be significantly different. From his point of view, the hyperinflation of Fiat, among other fiscal uncertainties, could make the punishment much less than it is today.
The often controversial McAfee also said that cryptocurrencies and blockchain technology would play a significant role in the disappearance of the fiat.
In his view, centralized financial institutions may have worked so far, but a lack of "freedom" often stemming from the whims of centralized authorities could bring the fiat to its knees.
He added that "in five years", the Fiat will begin to collapse under the weight of inflation and its future use would be ephemeral.