John McAfee, the eccentric tech billionaire and crypto advocate, is backing out from his earlier prediction of Bitcoin prices touching $1 million by the end of this year.
In his latest tweet on Saturday, he called Bitcoin a “crippled crypto-tech” and his previous claims “absurd humor.”
I’m the person who predicted Bitcoin, the most crippled crypto-tech, would reach $1 mil.
Are you one of the persons who did not see the absurd humor in it?
I posted it on the same day I predicted Whale Fucking would replace Surfing as the number one water sport.
— John McAfee (@officialmcafee) May 30, 2020
McAfee first predicted the insane rise of the price rise of Bitcoin in 2018 and has firmly maintained and defended his position for a long time.
He even said that if Bitcoin failed to rise to his predictions, “I will eat my d**k on national television.”
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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
But now he has taken a complete U-turn from that stand, calling it complete humor.
“Wake up!” McAfee wrote. “If Bitcoin ever hit $1 mil, it’s market cap would be greater than the GDP of the entire North American Continent.”
“What idiot could believe such nonsense?”
McAfee started to deviate from his earlier insane claims from January, calling it “a ruse to onboard new users.”
“Bitcoin was first. It’s an ancient technology. All know it,” he then added.
A controversial Bitcoin proponent
McAfee is one of the major advocates of the crypto economy, with millions of followers. However, he is equally controversial and rarely out of the cryptocurrency news.
Earlier, he was accused of shilling shady cryptocurrency projects and was taking hundreds of thousands of dollars for a single tweet.
The 74-year old also launched a crypto trading platform, McAfeeMagic, last year, which failed to appeal to the traders.