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John McAfee claims U.S Government is threatened by his support for cryptocurrency adoption, privacy coins

Biraajmaan Tamuly

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Source: Pixabay

The cryptocurrency space has some of the world’s most striking personalities fronting it. John McAfee, software pioneer and Founder of McAfee Antivirus, is one of those and he’s in the news again after he surfaced to give an interview to VLTV.

During the interview, McAfee touched upon a host of issues, such as his perception of Bitcoin, privacy coins and stablecoins. In what is an incredulous claim, McAfee said that the US government was after him not for tax evasion, but for the fact that he is vocal about the adoption of cryptocurrencies in the country.

He said,

“I am vocal proponent of privacy currency and distributed exchanges which cannot be shut down. I am a threat not just to America but to many governments around the world so this is why taxes have nothing to do with it. It’s just a ploy to shut me up.”

Speaking of the world’s largest cryptocurrency, McAfee completely dismissed the idea of Bitcoin being a “privacy coin.” A transparent blockchain where one user could easily check another person’s wallet if they had the address was clearly not “private,” he said.

On the same line of thought, McAfee also opined that Monero was an extremely “fine” coin with respect to the aspect of privacy, with transactions remaining extremely anonymous on its network. He added that Monero would be hugely successful if privacy coins dominate demand in the future, calling them “potential big winners.”

McAfee also dismissed the idea of gold-backed cryptocurrencies, claiming that one would have to invest significantly in the asset backing the cryptocurrency.

On the topic of stablecoins, McAfee said that only DAI makes a good case for being a valuable stablecoin in the market, owing to its efficient smart contracts and “beautifully constructed” network.

In the past, McAfee had predicted that Bitcoin, the world’s largest cryptocurrency, would record a valuation of $1 million by the end of 2020. McAfee also doesn’t believe that recent bearish movement is anything to be worried about.

Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.