John McAfee, long-standing cryptocurrency proponent, is in the news again after he stated the Bitcoin [BTC], like any other new technology, will always win. McAfee also shrugged off the suggestion that the cryptospace was prone to price manipulation, stating that it will not matter in the long run.
In a series of tweets, the US Presidential hopeful stated that Bitcoin will stand the test of time, and proponents should have faith in its technology. He added that global forces will not stop the power of decentralized currency, comparing the rise of cryptocurrencies to the rise of automobiles in the age of coal-powered railroads.
“You say the world’s powers will stop Bitcoin? Impossible. New technologies always wind. All the laughter in the world, plus a huge war with the most powerful industry in the world at the time – the Railroads – did not stop the Model-T from ushering in the age of automobiles.”
McAfee also addressed price manipulation in the cryptocurrency market, asking investors to “Relax and be patient.” He attested to the power of the top cryptocurrency in the long haul.
“People complaining about Bitcoin price manipulation by powerful players. Forget it. There’s not enough power on Earth that can stop Bitcoin in the long run. Relax and be patient.”
The cryptocurrency proponent’s tweet follows a statement by Jay Clayton, the Chairman of the SEC, who last week spoke about the price manipulation in the virtual currency market. Clayton stated that the main reason why the SEC was hesitant in approving publicly traded BTC products was the risk of market manipulation and the volatility of the coin market.
McAfee had previously called out Clayton, demanding a debate with him. However, the debate never materialized. He further referred to the SEC as a “corrupt, puss filled, bile dripping abscess.”
Always the Bitcoin bull, McAfee is in the running for the President of the United States in 2020, but only to promote the use of cryptocurrencies through his campaign.
Earlier in 2018, McAfee had predicted that Bitcoin would reach a price of $500,000 by 2020, and would break the $1 million barrier, by the end of the year. He added that if proven wrong, “I will still eat my d**k if wrong.”
Many cryptocurrency proponents are expecting a price hike later this year, as the much-anticipated Bitcoin halving in May 2020 approaches. McAfee, in an exclusive interview with AMBCrypto, added that “the halving will help my prediction.”
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