Bulletin
Investor Alert

The Margin Archives | Email alerts

Nov. 29, 2017, 3:56 p.m. EST

Bitcoin $1 million! Cybersecurity legend John McAfee ramps up NSFW wager

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Bitcoin USD (BTCUSD)
  • X
    MGT Capital Investments Inc. (MGTI)

or Cancel Already have a watchlist? Log In

By Shawn Langlois, MarketWatch


Getty
John McAfee speaks with reporters outside of the Beacon Hotel, where he stayed after a month on the run in Belize.

Last summer, John McAfee made headlines when he said he’d, uh, make a meal of his manhood on live TV if bitcoin doesn’t hit $500,000 within three years.

Now, with bitcoin /zigman2/quotes/31322028/realtime BTCUSD -0.31%  having exploded for a fivefold gain since his prediction to bust through the $11,000 level, the antivirus software pioneer’s self-cannibalizing wager seems at least a little bit less crazy.

But then he decided on Wednesday to double down:

Well, $1 million is certainly a ways off, but $11,000 seemed like a moonshot, too, back when bitcoin was trading below $100 back in 2013. Or at a dollar in 2011.

To his credit, McAfee has been ringing the “buy bitcoin” bell all long the way:

McAfee, of course, has a vested interest in stoking demand. He runs MGT Capital Investments /zigman2/quotes/201906604/delayed MGTI +12.86% , which bills itself as being “positioned to become the pre-eminent crypto-mining enterprise in the United States.”

McAfee’s colorful history, which includes running from the law and running for president, has led his detractors to cast him off as an unhinged nutjob. This whole wager thing obviously isn’t helping. He has a message for these people:

Bitcoin trading was extremely volatile on Wednesday with prices plunging back toward $9,000 just hours after hitting a record above $11,000. At last check, a single bitcoin was trading at $9,428.54

/zigman2/quotes/31322028/realtime
US : CoinDesk
16,962.54
-53.23 -0.31%
Volume: 0.00
Dec. 3, 2022 3:10p
loading...
/zigman2/quotes/201906604/delayed
US : U.S.: OTC
$ 0.0079
+0.0009 +12.86%
Volume: 401,420
Dec. 2, 2022 3:51p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$5.56 million
Rev. per Employee
$393,500
loading...

Shawn Langlois is an editor and writer for MarketWatch in Los Angeles. Follow him on Twitter @slangwise.

Get news alerts on Bitcoin USD — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Investing

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.