Paper money is facing extinction as most transactions are now electronic. This new standard make it less than surprising that a non-fiat, digital currency like Bitcoin has risen in value from $1000 to $20,000 in just one year.
Despite the mainstream adoption of Bitcoin, cryptocurrency remains riddled with controversy. The SEC shutdown of Initial Coin Offerings like Munchee. Economist Nouriel Roubini aka “Dr. Doom” expects it to collapse in a gigantic bubble while JP Morgan’s Jamie Dimon believes it’s a fraud. This leaves millions of potential investors unsure whether to tap into the rapid growth of cryptos, stay clear or HODL their existing digital assets. Good indicators on which choices make the most sense include NASDAQ having bitcoin-base ETFs like GBTC listed, Bloomberg’s expansion of its terminal to include Bitcoin, Litecoin, Ethereum and Ripple (XRP) and the recent launch of Bitcoin futures on CME and CBOE.
To top it off, a heated conversation is going on regarding John McAfee’s predictions about Bitcoin. Hairsplitters are now debating whether McAfee’s offer to eat his own lower extremities is based on Bitcoin or Bitcoin Cash hitting $500k by the end of 2020, while others are wondering what “Bircoin” is.
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong. pic.twitter.com/WVx3E71nyD
— John McAfee (@officialmcafee) November 29, 2017
John McAfee, a legendary advocate of cryptocurrency and the blockchain points out that he buys a lot of stuff with Bitcoin and that no one should think he is mad; it’s the same thing people said about the automobile. I’m as anxious as you to find out all of his recommendations, but we were able to pick up a few, outlined in the rest of this article.
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