We’ve all heard about the success people had by investing in the crypto market. Countless investors made their fortunes virtually overnight when the value of these digital currencies skyrocketed last year.
However, it turns out that trading in these virtual assets is not the only way people can make big bucks out of the ballooning crypto segment. In fact, some people can even make tons of money even without making a single crypto trade.
Meet John McAfee, the tech entrepreneur who recently revealed that he has received what he called an “embarrassingly huge” amount of fee for just doing a simple task that anyone with access to a PC or smartphone could have done themselves. That’s right; McAfee was paid an astounding $105,000 per tweet promoting an initial coin offering or a specific cryptocurrency.
If the name rings a bill, well, it should look especially for those who have been using a personal computer for a couple of decades now. John McAfee is actually the same person who founded the McAfee Associates, the American company that was founded back in 1987 and was known for its slew of McAfee branded anti-virus software which was a hit back then. Of course, the younger netizens won’t recognize him or his name as much because the company has already been renamed to Intel Security Group after it was acquired for a cool $7.68 billion in 2010.
Despite being already a billionaire from the deal, John McAfee does not know how to rest on his laurels, especially when the opportunity to earn a hundred thousands of dollars for a single post knocks on his door. With 811,000 followers, crypto companies seem happy to fork over the cash to MacAfee for the honor of being promoted on social media.
“I’m the only person in the crypto field that has openly divulged the outrageous amounts of money charged by crypto promoters,” McAfee even told the Independent. Apparently, the $105,00 per tweet rate was computed based on the rate of $375 per character and multiplied by 280 maximum number of characters allowed on Twitter.
While he acknowledged that the amount could be considered embarrassingly huge, he has his reasons for revealing the actual amount to the public.
“It’s embarrassingly huge, but it’s true,” McAfee explained to the Independent. “I have been getting these fees for over six months. I decided to go public with it because I am an advisor to many of these companies and I know that I’m in the cross-hairs of the SEC [US Securities and Exchange Commission], so it is in my interests to prove transparency.”
The question that probably on everyone’s mind right now is if McAfee’s sway on the market is worth the price of his tweets. Surprisingly, it is. Shortly after he tweeted on Burstcoin, the crypto’s value rose by an astounding 350 percent.
Of course, McAfee is not the only well-known figure promoting cryptocurrencies on the side. Hollywood actor Jamie Foxx, as well as boxing king Floyd Mayweather, also dipped their fingers on the crypto promoting pie. Mayweather’s case, however, is a bit messy at the moment when the crypto firm he endorsed ran into some problems with the SEC.