The sector of cryptocurrency has been one of the biggest tradable assets to invest in. with bitcoin induced demonetization, the relationship of people with money is changing. The tremendous rise in its value has caught the attention of investors. John Mcafee, the software industry tycoon and founder of McAfee Associates has shown a keen interest in the rise of bitcoin. Currently considered as one of the few people who can create a cryptocurrency, he predicted that the bitcoin will touch $1 Million by the year 2020. In this article, we will look at the role of John Mcafee in promoting the world of cryptocurrency.
- Releasing his own decentralized exchange called the McAfee’s DEX.
- Explaining the rise of bitcoin value through practical reasoning and facts.
- Making the investors aware about the true facts and giving them advice on where to invest
- John McAfee has supported numerous quality projects such as doc.com
Launched Decentralized Exchange to Fight Fraud
the crypto enthusiast released his own decentralized exchange called the McAfee DEX on October 7 2019. The McAfee DEX runs on an Ethereum blockchain and is completely decentralized. It requires no name, bank account details or documents, and the transaction details are kept private. McAfee stated that this could eventually be the door that frees us from Fiat currencies.
From November 8, 2019, the McAfeeDex has also integrated the TRON blockchain, which enables the exchange of TRC10 and TRC20 tokens. The intention is to make decentralized exchange cross-blockchain which makes it possible to operate both Ethereum and its ERC20 tokens, as well as with Tron and its TRC20 tokens.
Explaining the Rise of bitcoin
In 2017, John McAfee predicted that bitcoin would skyrocket to $1 million by 2020.
He explained that the scarcity of bitcoin is the primary reason why it will hit $1 million. He explained that the supply of bitcoin is limited to 21 million out of which a considerable amount, approximately 7 million has been lost forever.
McAfee also explained that 85% of the bitcoins have been mined already and the rest will take decades to mine. Thus creating a situation where the supply of bitcoin will remain limited but the demand will increase exponentially.
The numbers suggest that even if bitcoin becomes 5% of global financial transactions, its values is expected to go as high as $10 million.
Promoting many quality projects like doc.com
Formerly known as Docamdemic, the MTC token experienced a considerable rise after being promoted by McAfee. It can be said that doc.com rose from the ashes and surged 327% after being backed by him. Doc.com offers you free medical assistance 24 hours a day, by video call.
Exposing scam projects and spread awareness
Fake ICO, Fake tokens are extremely common in the world of cryptocurrency. There are endless scams trying to extract money from first-time investors looking for quick money.
McAfee has been quite vocal about this and makes sure to spread awareness about such fraudulent schemes.
McAfee keeps on exposing such o fake ico and projects that aim to cheat innocent investors.
Planning to run for the presidency
McAfee recently stated that he has decided to run for the presidential elections to “best serve the cryptocurrency community”. He plans to either run from the libertarian party or contest on his own. Although McAfee admitted that his true intentions for participating is to promote the growth and functioning of the world of digital currency. This is being seen as an opportunity to mobilize the masses and increase their curiosity towards the crypto industry.
McAfee has often supported his views and answered those who tried to demean cryptocurrencies. After being called “a scam” by the CEO of JP morgan Jamie Dimon, he openly came out in support of cryptocurrency and explained why he considers bitcoin as the next big thing.