John McAfee Names Cryptocurrencies to Survive COVID-19 Crisis

John McAfee Names Cryptocurrencies to Survive COVID-19 Crisis

John McAfee, a controversial crypto figure, claims that the less-known privacy cryptocurrencies such as Monero, Safex and Apollo would be the best choice for investors who look for a safe haven at the time of financial crisis.

The crypto baron used to minimize the threat posed by the new coronavirus epidemic, and believes that the quarantine will negatively impact the global economy.

He added that the government-issued coins could face hyperinflation, which has already taken place in some countries such as Zimbabwe and Venezuela.

The world’s central banks have recently announced dramatic monetary policies to promote economies especially amid the rapid spread of coronavirus. For example, the US Federal Reserve has announced the ‘quantitative easing’ policy which means the central bank is going to buy longer-term bonds worth billions of dollars and then goes out and does that.

Monero is among McAfee’s favorite coins, that is why he included in his tweet.

McAfee criticizes Bitcoin

In early 2020, the 74-year old computer programmer has criticized the Bitcoin, calling it an ancient technology on several limitations.

He expected the cryptocurrency to be valued at $1 million by the end of this year. He has always been advocating privacy and decentralization polices.

In a strange tweet, McAfee said he will eat his penis if the Bitcoin does not reach $1 million by the end of 2020. He simply called his promise a “ruse” to attract new followers on Twitter.

In July 2017, the 74-year old computer programmer said “he would eat his dick” if the BTC price does not reach $500,000 within three years. However, after the passage of the three years, McAfee repeated the tweet “if not, I will eat my dick on national television”, and gave reasons for his rationale.

Earlier this month, TECHZIM media outlet reported that a widespread belief in the launch of digital currencies will be announced by the Zimbabwean government along with other African states in partnership with Apollo Fintech.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.