John McAfee has doubled down on his confidence in bitcoin by stating his belief it will be worth $1 million by the end of 2020. Bullishly, the controversial businessman said he will eat his own manhood if the cryptocurrency fails to perform to that level.
The founder of the eponymously named security software, McAfee has something of reputation for backing the volatile cryptocurrency with outrageous comments.
Earlier this year, the US native signified his faith in the cryptocurrency by proposing a similar forfeit, stating he would eat his own penis on national television if bitcoin did not reach $500k within three years.
With bitcoin recently smashing the $10,000 landmark on South Korea’s cryptocurrency exchange and news of its rise to $11,000 on Wednesday, McAfee appears to have become even more spirited. He has now raised the bet, waging his genitals against bitcoin growing to $1 million by 2020.
“When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017,” he said. McAfee said bitcoin has accelerated much faster than what he originally thought and therefore had to revise his opinion. “I will still eat my d*ck if wrong,” he added.
Bitcoin has experienced a meandering rise since its launch in 2009. In early November, bitcoin’s value dropped 30 percent before rebounding. As of Wednesday, the digital currency was valued at a record $11,000, up from $1,000 at the beginning of the year.