That is about as bullish a bet as one can find in the commodity markets, especially the notoriously volatile cryptocurrency trade. For perspective, McAfee is hoping for a rise of 22,636 percent in the next three years in order to save his manhood.
Bitcoin reached a high of $3,018 on June 11 but recently took a beating, dropping below $2,000 over the weekend before rebounding to over $2,300 early this week. At time of writing, it the Bitcoin price index stands at $2,384.
The overall cryptocurrency market broke $80 billion on Tuesday, Coindesk reported.
Fundstrat's Tom Lee, known for his bearishness, has dubbed Bitcoin "the new gold," claiming that a price of $55,000 is possible by 2022.
"Cryptocurrencies are cannibalizing demand for gold," Lee wrote in an investor note cited by Business Insider. "Bitcoin is arguably becoming a scarcer store of value. Investors need to identify strategies to leverage this potential rise in cryptocurrencies