Back in July 2017, John McAfee made one of the most outrageous bets ever seen in the crypto world. He said that if Bitcoin isn’t worth $1 million per coin by 2020 he will eat his dick live on national television. McAfee felt very confident as the price continued to rise throughout 2017, but as soon as 2018 hit McAfee knew he was in trouble. In a series of Tweets, McAfee looked to address this bet and create a backup plan just in case Bitcoin didn’t make his grandiose prediction.
if not, I will eat my dick on national television.
— John McAfee (@officialmcafee) July 17, 2017
Losing His Bullish Ideology
Given the extent and length of this bear market, many crypto holders have had their patience and faith tested. However, McAfee appears to have finally broken and is now backing a long-term bear market. He is well known for his over the top bull run predictions, but he is slowly making lower and lower targets for Bitcoin’s price over the long term.
Pepping Up Holders
McAfee is the king of pep talks, and he recently Tweeted out a pep talk to his army of followers encouraging them not to panic. He drew upon his vast life experiences, saying that he has lived through numerous bear markets in his life – and at 73, he has seen just about every great bear market of the 20th and 21st century.
Subcontracting His Duties
Those odd enough to want to see a 73 year old man cut off his dick and eat it live on TV will surely be disappointed by the news, but the rest of us are actually rather relieved. Instead, McAfee has said he will subcontract out the task of eating his manhood to a group of prostitutes – that still doesn’t mean it needs to be on TV though. When his followers hit out at him for being a spoilsport, he quickly pointed out that “The law in every State is similar:
Debts owed, whether in tangible assets or in service, may legally be fulfilled by agents acting on behalf of the principal.
If the worst comes and I lose my Bitcoin bet (keep in mind I promised to eat my dick. The cutting it off first was added by the media), I will probably subcontract the task to a relay team of Bangkok prostitutes with instructions to carry out the task slowly, finishing as I exit
— John McAfee (@officialmcafee) December 8, 2018
Physically Impossible Goals
After doing the math, it’s very clear that McAfee’s goals of $1 million per BTC by 2020 is physically impossible – or very unlikely at very least. Bitcoin would need to print a $1,300 green candle every day for the next two years in order to reach these lofty heights. Given the recent state of the bear market, we can’t see that happening any time soon. We love his enthusiasm, but his $1 million by 2020 prediction is sinking faster than Bitmain at this point.
It’s a sad day when John McAfee turns bearish, but he has yet to update his long-term price prediction. $1 million by the end of 2020 was a little obscene, but something a little smaller could be realistic. We will be happy with #lambo2020 to still be on the cards – let’s keep our fingers crossed.