Tech expert and founder of the world’s largest security company, McAfee Associates, John McAfee predicts Bitcoin to hit $1 million in the year 2020.
John said that Bitcoin’s scarcity will mainly trigger its price. BTC supplies limited to 21 million coins where a significant portion is lost forever.
“Let’s get real, there are only 21 million bitcoins, seven million of which have been lost forever, and then, if Satoshi is dead, add a few more million.”John McAfee
Bitcoin’s scarcity will trigger its price
According to Blockchain.com data, BTC has since then added more than 100,000 coins to its supply, leaving a circulation of 17,968,000 as of now.
According to Coin360, BTC is currently trading at $8,123.60 USD.
‘After seeing some notable volatility this year, Bitcoin is still up more than 27% compared with this time last year, when it was trading at $6,500.’