John McAfee, one of the most recognized figures in the cryptocurrency community, announced that he is working on the first crypto debit card accepted “everywhere.” He said that on Twitter on April 27 and showed some images of how the debit card could look like.
John McAfee Works On His Bitcoin Debit Card
McAfee has several times been promoting different projects, Initial Coin Offerings (ICOs) and virtual currencies on Twitter. Users will be able to spend their Bitcoin (BTC) everywhere using the new debit card created by McAfee.
As per the pictures that are shown on Twitter, it is possible to see that the back of the card will have a QR Code with a Bitcoin wallet in which users would likely be able to deposit BTC to spend with the card. Users will be able to spend their Bitcoin in a very easy way in many shops, increasing the number of transactions in the network and Bitcoin’s use cases. Although users pay in Bitcoin, they will be converting it to local currencies.
The front of the card shared by Mr. McAfee shows his face, a U.S. flag and the inscription “Freedom Lover.” At the same time, in the middle, there is a slogan for his presidential campaign that says “Get your soul back.” McAfee will be participating in the upcoming U.S. elections.
Sorry – “Credit Card” was a misnomer. More like a debit card. You load it with Bitcoin then use it anywhere. We convert to local currencies. pic.twitter.com/0MRmh1PslW
— John McAfee (@officialmcafee) April 26, 2019
He has also informed that only the first 12,000 cards will have his image on the front and the rest will be plain.
Although virtual currencies and Bitcoin have been expanding all over the world in the last years, they couldn’t reach a large number of users or mass adoption. This Bitcoin debit card is going to help the community in this sense. With a larger number of Bitcoin enthusiasts being able to spend their coins, the number of transactions is expected to increase as well.
McAfee is a very bullish Bitcoin supporter. He believes that the digital currency will reach a price of $1 million in the next years. Nonetheless, this is a very extreme prediction. Other experts and analysts agree with the fact that Bitcoin is going to reach new highs in the future. However, they think that the price of the most popular virtual currency could reach between $50,000 and $250,000.
Currently, each BTC can be bought for $5,300 and it has a market capitalization of $93.6 billion.