Bitcoin [BTC]: John McAfee predicts Bitcoin to breach the $1 million mark on 31 December, 2020

John McAfee, the founder of the software company, McAfee Associates, stipulated the exact day, a day he calls the ‘hard date,’ when he believes that Bitcoin will achieve the $1,000,000 feat. This was in response to Jesse Lund’s recent statement on the future of Bitcoin.

Lund, Vice President of Blockchain and Digital Currencies at IBM spoke about IBM’s latest project – World Wire payment network, XLM and Stellar and the future of BTC in an interview. When asked about the cryptocurrency’s valuation for the year, he said:

“I’ll go with $5000 but let me say that I have a long term outlook.”

The Vice-President further said that he believed that Bitcoin will be worth a million dollar someday. He added:

“I like that number, because if Bitcoin is at $1 million, then a Satoshi will be equal to one U.S. penny, which would mean that there is over $20 trillion of liquidity in this network and this $20 trillion of liquidity would massively change the global financial services landscape.”

It is in response to these statements that McAfee posted a tweet of his own,

“People are waking up to the fact that Bitcoin will be $1,000 000. But when? “Someday”. “Maybe 5 years”. “Within a decade”. I’m the only one giving you a hard date: Dec 31st, 2020.”

Jesse Lund made this prediction on a YouTube channel, Crypto Finder where he also discussed the need for a less cumbersome cross-border payment network and how IBM planned to solve the same. Speaking about the problem of cross-border payments, the Vice President of Blockchain and Digital Currencies at IBM, asserted the need for a requisite channel that facilitated an instant transaction execution with no technical barrier.

John McAfee’s present prediction comes a few years after made a similar prediction for the same cryptocurrency a few years ago. Back in July 2017, McAfee predicted that the price of the cryptocurrency would reach $500,000 in three years. The present prediction suggests that McAfee believes BTC to grow in value at two times the speed as it did back in 2017.

Further, McAfee also exuded confidence in his price prediction, promising to do anything requested of him on Twitter.

This isn’t the first time John McAfee is in the news this year. Since declaring his candidacy for the US Presidency, McAfee has been in the news for his controversial statements and escapades. He is presently living in exile, away from the United States after being pursued by the Internal Revenue Service for ‘unspecified financial crimes.’