In a recent interview during the CoinsBank Blockchain Cruise, John McAfee said that Bitcoin is the number one coin for payments, adding that mining is a profitable business.
The past week has been eventful for crypto influencer John McAfee. Sailing in Europe for the CoinsBank Blockchain Cruise, McAfee recently announced his partnership with cryptocurrency exchange CoinBene. He also talked extensively about cryptocurrency mining, wealth creation, and Bitcoin, in a recent interview with AMBCrypto. McAfee said that Bitcoin is the number one coin for payment processing worldwide. He later shared his views on Twitter, receiving both appreciation and flak, as usual.
Bitcoin Mining Will Always Be Profitable
John McAfee reminisced his time with MGT Capital, which had recently shifted its business to crypto mining. He said that he was one of the largest miners in the world when he was with MGT, and they chose this practice because of its profitability. He added:
“No matter what the price of Bitcoin, you cannot lose money by mining Bitcoin. Let’s say the price drops to $2000, everybody gets out, and the difficulty rate drops to zero, and you’re cranking out millions of coins per day.”
He also said that the last Bitcoin could be worth billions, and then went on to proclaim that the worth of the coin will be at least a million dollars by December 2020. He added:
“That’s my prediction, I’m going to stand by it … it is the number 1 coin for processing transactions. Run the numbers.”
What About Price Drop in Bitcoin?
John McAfee talked about market manipulation, claiming that people who are involved in this practice will lose billions in the process as the value of Bitcoin is several times more than its price.
In July 2017, McAfee wrote on Twitter that Bitcoin price would reach $500,000 within three years and bet that he would “eat his d**k” on national television if this doesn’t happen. His current claim doubles down on his forecast. The price of Bitcoin is $6,458.85 at press time, per CoinMarketCap data.
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