Monero Value Is Tied To Bitcoin: John McAfee

The popular crypto and tech personality, known for his antivirus solution and company McAfee Labs, is in the cryptocurrency news again. Now, McAfee claims that the Monero value is tied to Bitcoin and says that it is crazy how the XMR coin is linked to the dominant cryptocurrency.

The “crypto baron” (as many call him) has taken to Twitter recently and started reminding the community of the fact that every altcoin, including the ones in the top ten, is correlated to Bitcoin (BTC) and this is how they follow the cryptocurrency up and down the scale.

While some are finding logic in what McAfee says, others are bashing him. Known as a former outstanding Bitcoin supporter, he now thinks that the Monero value is tied to Bitcoin. In the Monero news, Mcafee said that XMR is the most frequently used coin but sadly – it is still one that is tied to Bitcoin.

Does anyone else see the insanity of virtually all of crypto being tied to the value of Bitcoin?

Why for example, should Monero, whose value is its Privacy, be tied in any way to a coin that has ZERO privacy — Bitcoin?

— John McAfee (@officialmcafee) May 1, 2020

On top of all this, McAfee has also stated that on the Darkweb nobody accepts Bitcoin anymore because it can easily be tracked. Now, as he said, Monero is the most widely used cryptocurrency. As for BTC, he believes that it is the most traded one.

However, McAfee sees the difference and says that while Monero could be tied with Bitcoin, BTC is also no longer the King Of Crypto.

“It is not King. It’s the most widely “traded” coin. The most widely “used” coin is Monero. If you doubt that check vendors on the Dark Web. No-one accepts Bitcoin anymore. Hardly anyone accepts Bitcoin these days. Everything is Monero,” he said.

Meanwhile, we can see the Monero news showing good increases today, as XMR is nearing the $65 price level. With an upside surge of 2.13%, the coin initiated a new rise and is looking to recover from the quick correction which swept the markets.

Meanwhile, Bitcoin (BTC) is steady and rising towards the $9,000 mark and the BTC news shows that there is some significant momentum building up in the price. As a reminder, the Bitcoin halving date which is going to reduce the block size of BTC (from 12 BTC to 6.25 BTC) is nearing – scheduled for May 12 this year.