John McAfee’s huge Twitter fee: The true cost of a cryptocurrency tweet
John McAfee, the man behind the popular cyber security firm, has revealed how much he charges to tweet about cryptocurrencies, highlighting the influence he and his eponymous software have over the market.
According to the security pioneer, $105k is how much it’ll cost you for a tweet regarding a certain digital token. “I’m the only person in the crypto field that has openly divulged the outrageous amounts of money charged by crypto promoters,” McAfee explained to The Independent. “It’s embarrassingly huge, but it’s true. 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.”
According to a research report by Motherboard, Vice’s tech section, tweets from McAfee can directly affect the price of a token. Put bluntly, if he sends out a tweet in support then people are more likely to go out and invest, pushing the price up. Conversely if he predicts a downturn in price then people get to selling, which will cause a price drop. Hence the hefty price tag.
“We can provide promotions through tweets alone – which are proven to be highly effective – or through tweets that are co-ordinated with our professional writing and blogging division,” the McAfee Crypto Team website states, adding: “We turn down over 90 percent of all companies wanting to buy our services.”
McAfee, who made of point of mentioning that he is the only person open and honest about how much he charges for such a tweet sent out a warning to other influencers who aren’t so ready to divulge such information. “Others who are still keeping their financial arrangements private are going to be in for a huge awakening when they receive their SEC subpoena,” he added.