John McAfee Dismisses BTC Price Manipulation Rumors, Says Bitcoin is Impossible to be Stopped
Before it began getting the mainstream momentum it enjoys now, Crypto was powered by everyday people who had great faith and enthusiasm about this potential to succeed.
There are few examples of this more poignant than John McAfee, a noted crypto enthusiast who is running an entire presidential campaign for the sole purpose of drawing attention to the industry.
In a series of tweets, he once again reaffirmed his support for Bitcoin, stating that it is indeed the future and cannot be stopped even by world powers. He also said that the price manipulation that has been reported in the industry will have no effect in the long run.
In a tweet, McAfee compared the rise of crypto to that of the automobile during the age of he railroad, saying that it is here to disrupt the current system and is unstoppable.
“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,” his week said.
This is a sentiment that has been shared by the community for a long time as crypto has been said to be the inevitable replacement for fiat currency.
An example for this displacement is the fact that blockchain-powered payments are becoming more favored among banks for cross-border payments compared to traditional payment systems like SWIFT which are slower and more expensive.
McAfee also made sure to touch on market manipulation which has been a hot topic both in and out of the crypto space. Tether has been accused of being a manipulation tool, many exchanges have been accused of manipulating transaction volumes and some even argue that the price of crypto is being manipulated.
McAfee shrugged these allegations off and instead told investors to relax.
“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,” he said.
This comes after comment made by Jay Clayton, the Chairman of the SEC, that the commission is reluctant to approve some crypto products due to concern about manipulation. McAfee has, in the past, been critical about Clayton and the commission itself
While he is lax about possible price manipulation, he does seem to be optimistic about future prices, publicly declaring that Bitcoin will break the million dollar mark by 2020, a claim that he refuses to back down on.