When it comes to financial advice, the crypto-community longs for insight from successful entrepreneurs who support the ecosystem. One such prominent technologist and avid supporter of Bitcoin is John McAfee, a software entrepreneur who has been at the epicenter of the cryptocurrency market over the past few years. In one of his latest interviews, McAfee said,
“Here’s the problem with cryptocurrency. People buy it (Bitcoin) to invest. Do you realize how counterproductive that is?”
Instead, McAfee argued that the general public must buy cryptocurrencies to improve their lives. Alleging the government’s role in “monitoring and controlling everything we do,” McAfee believes that cryptocurrencies can free citizens from the control of governments through their fee on fiat currency. Furthermore, he supported his claim of Bitcoin reaching $1 million, purely based on its branding. He added,
“Bitcoin is a fucking brand like Colgate or Bayer. It is what people think about when they think of cryptocurrency. So given the fact that it’s eight grand, it will continue grow in value.”
McAfee further insisted that blockchain technology was here to stay, and advised viewers to use cryptocurrencies if they want to avoid taxes just like the seasoned technologist. Additionally, he also stated that governments cannot force the public to use their in-house crypto if other tokens from the crypto-ecosystem serves the purpose better.