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Felicia Tan
in
Crypto
June 2 18:25

John Mcafee: only idiots believe in bitcoin growth to $1 million

Famous entrepreneur John Macafee has given up on his bitcoin price forecast. He called idiots those who believe that the BTC price will rise to $1 million.
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In 2017, Macafee promised to eat his own penis if the price of bitcoin does not reach US$500 thousand by the end of 2020. Later, he raised the rate to US$1 million. Since then, the entrepreneur has been actively supporting his words, but in January this year he suddenly called bitcoin "a real shieldcoin".
Now with exactly six months to go until the end of 2020, Mcafee publicly gave up his forecasts.
Entrepreneur did not specify what data he used in his calculations. With US$1 million market value of bitcoin, its capitalization would be US$18.5 trillion. According to the World Bank, U.S. GDP exceeds US$20.5 trillion, while another US$1.7 trillion and US$1.2 trillion fall on Canada and Mexico, respectively. The total GDP of these countries is US$23.4 trillion.
Even if we take into account all 21 million BTC coins available for production and permanently lost, the capitalization of Bitcoin with a market value of US$1 million will not exceed the GDP of North America.