McAfee backs down from his BTC $1 million prediction, while Ripple releases 1 billion tokens
McAfee: Bitcoin will never be worth $1 million
John McAfee, the founder of McAfee antivirus, is known in the crypto world for his eccentric statement to eat his own man parts if the price of bitcoin does not reach $1 million by the end of 2020.
The businessman made this prediction back in 2017 and so far, has not refuted it. However, the other day, McAfee wrote that this is complete nonsense since, at a price of $1 million, BTC capitalization will exceed North America’s GDP.
“I’m the person who predicted Bitcoin, the most crippled crypto-tech, would reach $1 mil. Are you one of the persons who did not see the absurd humor in it? If Bitcoin ever hit $1 mil, it’s market cap would be greater than the GDP of the entire North American Continent. What idiot could believe such nonsense?” — McAfee said on Twitter.
Ripple releases 1 billion tokens from the company’s wallet
Management of the Ripple project has released 1 billion tokens from the company’s escrow accounts. At the current price, they cost more than $200 million, according to the Whale Alert service.
The company regularly withdraws XRP from their wallet and sells them to support operations. So, in Q4 of 2019, Ripple liquidated $13 million worth of tokens, in Q3 — $66 million, and in Q2 the record amount of $251 million.
In addition, Ripple co-founder Jed McCaleb sold over 1 billion XRP from 2014 to 2019.
Earlier, startup’s CEO Brad Garlinghouse admitted that XRP sales form a significant part of the company’s budget.