Bitcoin is the least used cryptocurrency, says John McAfee

Bitcoin is the least used cryptocurrency, says John McAfee
Written by:
Ali Raza
May 19, 2020
  • John McAfee, previously known as a major Bitcoin supporter, turned his back on the largest crypto.
  • In a series of tweets on May 1st, McAfee criticized BTC for being a zero-privacy coin that is widely traded.
  • Instead, he praised monero, stating that it is a perfect coin to build the crypto industry on top of.

John McAfee, the creator of McAfee Antivirus and a known crypto supporter, recently praised privacy coin Monero (XMR). McAfee acknowledged XMR as the most used cryptocurrency. Meanwhile, he also put down Bitcoin, stating that no one wants to accept it anymore.

McAfee turns his back on Bitcoin

McAfee became a big and vocal crypto supporter over the last several years. Over the course of the last few months, he entered the crypto industry as an exchange founder and coin launcher, too. He created his own crypto exchange, McafeeDex. In addition, he also created the software enterprise, McAfee Associates.

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His negative comments against Bitcoin do come as a surprise, however. After all, McAfee is well-known for his interest in Bitcoin, among other things. He was a Bitcoin advocate who claimed that the coin will hit the price of $1 million before 2020 ends.

However, it now seems that the former Bitcoin bull is no longer a fan of the world’s largest cryptocurrency.

He actually started bashing Bitcoin in his tweets from May 1st, when he called it a zero-privacy coin.

In the same tweet, McAfee expressed his surprise by the fact that all other cryptos are tied to Bitcoin’s price movement. He particularly questioned Monero’s price to the world’s first crypto. Monero, as a privacy coin, offers and values privacy. Meanwhile, Bitcoin has ‘ZERO privacy,’ as McAfee put it. With that in mind, he sees no sense in the correlation between the two.

Monero as the most used, Bitcoin as only widely traded

McAfee also commented on other people’s tweets, suggesting Monero as the most used crypto. He even stressed that he does mean the most used, not the most traded coin.

He then addressed a tweet of a user called STILLHODLING, who noted that BTC is the king of crypto. The user did note that this should not be like that, but they acknowledged that it is, in fact the case. However, McAfee denied it, stating that BTC is simply the most widely ‘traded’ coin. Even though everyone wants to trade Bitcoin, no one is actually using it for normal spending purposes. He once again stressed that it is Monero that is the most widely ‘used’ crypto.

Interestingly, his data seems to come from the Dark Web, where, as he says, no one accepts Bitcoin anymore.