Tech-Security pioneer John McAfee believes Bitcoin will hit $500,000 in value in three years!
McAfee recently who claimed the position as the CEO of MGT Capital Investments, stated that his organization is one of the greatest miners in the Cryptocurrency world!
He disagrees with Jamie Dimon's claim at the financial investment conference that Bitcoin is a fraud and pointed out that Bitcoin was about $2,900 two months ago and many people thought that it has reached its maximum but then it went up again!
He further stated that there will be government intervention in the cryptocurrency world sooner or later as its going to lose its tax-revenue and eventually will have to come up with a different source of revenue as the government wont be able to stop it as it doesnt have enough people to regulate it!
He further says that he respects Dimon's opinion but he does not agree with it as according to him Cryptocurrency is a volatile market and continue to be so and its not a fraud!
"Bitcoin is 99.9% legitimate at this point."
Read the complete report here!
In the meantime in some other references there are people like Mir Mohammad Alikhan, a recognized Finance/Investment Specialist & Advisor claims that cryptocurrency is a bubble and it will burst sooner or later!
A note on him:
According to him there are two aspects or rather sides to every financial product!
The purpose it serves, he says credit card is an example, it helps easy payments primarily it saves people from getting robbed or simply put it as people dont need to carry cash around and same way cheques, letters of credit..mortgages all has its own importance as a solution to a specific issue!
Secondly its regulation, he says the government cares less about the comfort or ease it creates for the users or how popular it gets because if it cannot be regulated, its dangerous for the entire financial system of the country!
Elaborating the 2nd point he says that if it cant be regulated it means that you can kidnap someone and take the ransom in cryptocurrency, you can deal drugs fund wars and terrorist organizations and many others!
He concludes that till the time these currencies are monitored and regulated by an authority, it cannot work and that it will collapse sooner or later if not today!
Read the complete report here!
This article on Apple rejecting cryptocurrency on iOS apps may fancy you! Take a look!
