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How John McAfee Became a “Prophet” Of the Crypto Market and Still Is Good with This Role

Bogdan Vinogradov

John McAfee is an eccentric millionaire whose biography deserves an adaptation in adventure fiction. So much has happened in his life! Drugs, a degree in mathematics, the world's first antiviruses, criminal charges — even murder, an attempt to become president, fabulous spending, and five minutes to bankruptcy... Cryptocurrencies did not escape McAfee's attention. Moreover, in recent years, he is known primarily as a crypto businessman and analyst. McAfee embarked on a new affair with the usual enthusiasm and fearlessness in the face of mistakes, which were many.

However, the interest in cryptocurrencies cannot be called a mistake. MGT Capital Investments, owned by McAfee, initially began to study bitcoin in terms of cybersecurity. His position was very balanced and reasonable back then: this is a new technology, the first examples of which often fail. But in 2016, even before the explosive growth in Bitcoin's value, the company began to engage in BTC mining. At this point, the interviews of the future crypto giant oozed with optimism: McAfee proudly stated that he had already invested more than a million dollars in crypto, he would dismiss any possible problems, saying something like: “I am 71, many “unsolved” problems have been solved during my lifetime.”

Perhaps it was a dizzying success that pushed John into yet another recklessness. Werner Herzog once lost an argument — and ate his own boiled boot on camera. But where is that German now — McAfee promised to eat his penis if by 2020 the bitcoin price does not reach... Er, at first, it was about half a million dollars for one coin, but soon the success of Bitcoin forced McAfee to raise his forecast to one million. Moreover, he did not stop reminding about his bet even in 2019 — apparently, counting on some kind of miracle.

Alas, the miracle did not happen, and in January, John erupted with a series of tweets, saying that his provocative statements were nothing more than a "gimmick" to attract new users, and the Bitcoin — well, a "shitcoin", an outdated imperfect technology, comparable to the first car.

Of course, Internet users did not appreciate such a change in position, calling the failed predictor a "crypto clown." But did it even concern McAfee? He continues to pour mud on the “useless” Bitcoin with might and main, not hesitating to repost his old videos with praise addressed to him, limiting himself to the remark that now “Bitcoin” should be understood as “cryptocurrencies”.

30-05-2019 12:20:28  |   News
Of course, such tricks seem insane. But don't forget that the creator of the most intrusive antivirus in the world knows a lot about self-promotion. His strategy of maximizing attention to his own person worked — he began to predict the price of various cryptocurrencies, thereby influencing their rates. Forecasts (not particularly accurate, as it is now clear) came out on Twitter, first in a daily format, and then in a weekly format. Later, McAfee boasted that before tweeting about any cryptocurrency, he took at least a hundred and a half thousand dollars!

However, anything might happen, and at the end of 2017, the account of a cybersecurity specialist with decades of experience was hacked, and unknown hackers began to advertise certain cryptocurrencies, which they, apparently, had invested in before. Twitter quickly returned the account to the owner, who, in turn, issued a rather sharp rebuke that he was not responsible for the safety of Twitter.

John McAfee will definitely remain in the history of cryptocurrencies forever. His bright, imaginative quotes can be found on any thematic site. Boastful promises tarnished the analyst’s reputation, and his “unbreakable wallet” Bitfi was hacked in almost a couple of weeks. So what? It seems that the seventy-four-year-old McAfee is simply invulnerable to public opinion.

Now he is participating in the American election race again, this time trying to become a vice-presidential candidate for Libertarian Party. Of course, because of this, he has to pay less attention to cryptocurrencies, and even more often problems arise with the authorities. But McAfee is not discouraged — on the contrary, he is going to launch his own virtual coin GHOST. The millionaire is still feeling good, however, investing based on his predictions is still not worth it.

Image courtesy of Coinpedia

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