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McAfee Last Year: Bitcoin Bubble is ‘Mathematically Impossible’

2 mins
Updated by Adam James
During the hype-driven buying of Bitcoin and almost all other cryptocurrencies last year, John McAfee said some things that he should regret saying.
We will share them with you in just a moment, but first, let’s briefly discuss the power of opinion.

Words Hurt

Leaders in any field, in any industry, have to live in an inescapable reality that whatever they say will be taken seriously by somebody that will make a decision based on the information provided by them. Those that remain leaders for a long time are quite aware that with influence comes responsibility. The SEC has been known to regularly punish CEOs for practicing their freedom of speech whenever markets move because of something they have said — as was the recent case with tech entrepreneur Elon Musk.

McAfee Doesn’t Believe in Corrections

Meantime, with cryptocurrencies, it is very different. Bitcoin has earned the status of a commodity, which enables anybody to say pretty much anything and to have a free pass (at least from the SEC). This, of course, does not translate to tokens whose creator/owner/provider is known. In the case of John McAfee, he praised Bitcoin for being $16.600 in a tweet — where he explains how those that are old school simply do not understand the math supporting the blockchain and how it’s literally impossible that Bitcoin is a bubble. The tweet was published a little more than a year ago and it is a sober reminder that even the strongest of opinions are still just that — opinions. We should all strive to be skeptical and to research on our own terms, to ask questions, and to avoid acting out of FOMO. McAfee from the past does not believe in corrections. One can only wonder what McAfee thinks about this tweet now. (To be fair, he probably doesn’t care for a second.) What do you think about McAfee’s tweet? Let us know in the comments below! 


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