One thing is constant in the ever-fluctuating world of cryptocurrencies. There’s always someone who isn’t shy about voicing their opinions on things like what coin to buy, what the perfect portfolio is, and the details about the next ICO that will make us all rich.
Most of this chatter is relatively useless, like a lot of financial advice in the world.
But there was one tidbit of buying advice making rounds on the internet recently that leaves a lot to think about.
In what appears to be an Instagram direct message, ‘Daniel Australia’ asked computer programmer and businessman John McAfee about his thoughts on the cryptocurrency Verge (XVG) after six months’ time.
McAfee wrote back saying it would be at “Possibly $15.00.”
Assuming this discussion is legitimate, the correspondence with Daniel Australia is pretty incredible. Verge hitting $15.00 would be an absolutely astronomical rate of growth. As of press time, CoinMarketCap puts Verge at about $0.13 dollars, with a market cap of 1,838,887,728 USD. It was roughly $0.000019 at the start of 2017.
You’d be a Verge millionaire today with just a $117 investment at the beginning of the year.
Even if Verge were to hit $10 in 2018, that would still represent about a 71x increase. Still below the 2017 increases from Ethereum and Ripple, but would represent a pretty big jump for Verge nonetheless.
Verge has seen really really good growth this late in the year. That’s partially due to McAfee. He pitched Verge last week, lumping it in with a couple of other coins that according to him, “can’t lose.”
This bit of Twitter activism sent the cryptocurrency booming. A coin that was once sitting below $.01 soon saw itself up past $.04 and even up to about $.07 on December 19th. This represented an astonishing rate of postive change in just a short amount of time.
Some of the growth can probably be attributed to the global trend of latching onto altcoins in order to protect against weird Bitcoin prices, along with Verge’s appealing privacy standards and speeds.
But McAfee’s endorsement of the coin still had a lot to do with its sudden spike. He got a lot of flack for throwing a bone to Verge, but noted on Twitter he included it because “it is a legitimate privacy coin, writing “you know that it is easier for a 3 cent coin to go to 3 dollars, than it is for a $300 dollar coin to go to $30,000 – same rise.”
In light of the positive growth, the Verge team has not been shy about promoting their coin. Their main developer told Cryptovest the year ahead will be a big one, “filled with new releases, partnerships, and privacy software.”
Now cryptocurrency is certainly an interesting industry, and McAfee is probably one of the most fascinating characters in it. The namesake of the ubiquitous McAfee antivirus software system is currently embarking on a project to talk about a “unique altcoin each day.”
Writing on December 20th how “most of the 2,000 coins are trash or scams”, McAfee instead promises to tell the world about the coins which “will change the world.” Bitcoin seems to be one of them, especially since he predicted on November 29th it would be at $1 million by the end of 2020.
(He also says the recent Bitcoin slumps are due to people “cashing in to buy presents which no-one wants or ever uses but pretends to be thankful for.”)
Many across the community have said his reports were going to fuel massive pump and dump endeavors, especially since his first choice was the controversial Electroneum, but his daily reports have still garnered a lot of attention.
John McAfee’s not one to be shy about his opinions about cryptocurrencies, but he’s going to make a lot of people very very happy if his $15 prediction comes true in June 2018.