Pi Network - auto mobile mining: Join now and be one of the pioneers!!


McAfee’s latest call for a $2 million bitcoin by the end of 2020 may seem a bit far-fetched but hear him out. Despite even the most optimistic models falling short of that value, here are five reasons why his prediction may not be so crazy.

$2 Million Bitcoin by End of 2020

During an interview with AIBCSummit, McAfee made the seemingly outlandish statement, doubling down on his previous prediction that Bitcoin would hit $1 Million by 2020:

Run the f***ing numbers. If Bitcoin is less than $2 million by the end of 2020, then mathematics itself is a flawed disappointment.

While most sane people, analysts, and economists remain healthily skeptical at McAfee’s words, if Bitcoin has shown us anything so far, it’s that anything can happen.

1. Bitcoin’s Scarcity Will Lead to a Price Surge

Bitcoin is scarce in nature with a capped supply of 21 million. On top of that, seven million have already been lost forever.

As the infrastructure and regulatory landscape continue to improve for institutional investors, the demand for Bitcoin will increase. Increased demand plus scarcity equals a massive price surge. Maybe even all the way to a $2 million bitcoin.

2. $2 Trillion+ Institutional Investment Dollars

Bakkt’s launch has been dire so far, but that doesn’t mean things will continue this way. Institutional investors are likely stalling due to the uncertain regulatory climate in the US.

However, according to data from the Federal Reserve Bank of St Louis, there are currently some $2.14 trillion dollars parked in institutional money funds right now just looking to find a home.

$2 Million Bitcoin Prediction John Mcafee

John Mcafee predicts Bitcoin will reach $2 million by 2020

If just a tiny percentage of these find their way into Bitcoin, the price would go hyperbolic.

3. Bitcoin Halving in May 2020

The next Bitcoin halving is coming up around May 2020. This event will hack the mining block reward in half.

Looking back at historical patterns, Bitcoin price tends to boom about a year after each previous halving. That may leave McAfee’s $2 million bitcoin prediction out of time by the end of 2020, but it could be a reality for early 2021.

4. Governments Holding BTC in Central Bank Reserves

OK, so this may not have happened yet. And it may be just starting with Venezuela considering the option, but let’s take a leap here.

If all countries follow the same trend as Pomp enthusiastically believes, the price of bitcoin could indeed go to the moon.

5. A Global Recession in 2020

The jury is still somewhat out on whether investors consider Bitcoin a safe-haven asset. However, as we’ve seen recently in Hong Kong, Venezuela, and Argentina when macro conditions are ripe, the stock markets tumble, and many investors drift toward Bitcoin.

If economists are right and there is a global recession next year, BTC could get a massive influx. With the network fundamentals better than ever, this could send things into the stratosphere.

A $2 million bitcoin by 2020 end? Highly unlikely. But there’s definitely potential for Bitcoin to become so much more than it is today.

Do you think Bitcoin will ever reach $2 Million per coin? Add your thoughts below!

Images via Shutterstock, Twitter @APompliano, Fed chart by fred.stlouisfed.org, video via Youtube @AIBCsummit

No Comments

Be the first to start a conversation

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Pi Network - auto mobile mining

Become one of the pioneers!!

Random Posts


"Your Headline Here How I Made $4947 In 1 Month"

Lorem pretium lorem orci elit nunc imperdiet nec vel sit pretium hendrerit amet nec orci gravida gravida sapien purus massa

Quick Bio About Me

mypicmeLorem proin accumsan accumsan volutpat ut nullam odio eleifend libero quisque ipsum gravida eleifend dolor nunc sagittis venenatis orci eleifend lorem quisque venenatis non sagittis sagittis ipsum nunc.

lacus eleifend pretium eros sed consectetur venenatis praesent sapien consectetur dolor nullam laoreet orci mauris ornare congue lacinia auctor lorem quis quis lacus eleifend pretium eros sed consectetur venenatis praesent sapien consectetur dolor nullam laoreet orci mauris


  • Resource 1

    Lorem sed praesent quisque auctor libero eros lorem nec praesent accumsan ornare venenatis nullam.

  • Resource 2

    Lorem sed praesent quisque auctor libero eros lorem nec praesent accumsan ornare venenatis nullam.

Random Blog Posts

© 2022 Cryptoracle.info - Crypto News