Pro Crypto 2020 Presidential Candidate John McAfee Says US Dollar Can Collapse Anytime
John McAfee, one of the most important and influential figures in the cryptocurrency space said that the US Dollar can collapse in the future. At the same time, he commented that Bitcoin will be worth at least a $1 million dollars in two years.
During a conversation with CoinRivet, McAfee talked about the cryptocurrency world and the future of the space. Additionally, he has also provided some information about the US presidential campaign. The meeting was held at the Intercontinental Hotel at the Malta Blockchain Summit.
About running for US president, he said that he will win the nomination but that the important thing is to promote cryptocurrencies. He explained that during 2016, he received attention from the media and that he is going to talk about financial freedom. In order to achieve that, he says it will be necessary to do it through blockchain technology and cryptocurrencies.
Moreover, he then said that mass adoption is currently happening and that in five years the US dollar would collapse. However, he does not believe that only the dollar will disappear, he goes even further saying that fiat currency as a whole will disappear.
On the matter, he commented:
“I don’t think anyone will use the US dollar or the euro or the Japanese yen or any other company in any other countries. We will be using crypto in the very near future. It [fiat currency] will disappear.”
For him, cryptocurrencies have tremendous advantages compared to centralized currencies, something that will allow people to realize which monetary system is better for them.
McAfee is also known for being very bullish about the future of Bitcoin. A year ago, McAfee said that Bitcoin was going to reach $1 million dollars by the end of 2020. About it, he said that he is not worried about this situation because he thinks about the long term. He is looking at the end of 2020 when Bitcoin will be worth a million dollars, not the next year.
He then talked about the market and how it can be manipulated by wealthier investors. Nevertheless, he said that as Bitcoin and cryptocurrencies grow, it will be more and more difficult to manipulate the market. There will be increased liquidity and fewer possibilities for whales to move the price on their favor.
At the same time, he says that financial leaders and governments do not want cryptocurrencies to succeed since they would lose control over monetary policy and tax collection.
Finally, at the end of the interview, he recommends everyone to start using virtual currencies every single day rather than view them as an investment. Furthermore, he says that individuals should not be worried about these fluctuations in the market because the number of transactions is growing and its price will also grow in the future.