President Bukele Predicts BTC At $100k With Hope That More Countries Adopt It As Legal Tender
January 03 2022 - 04:02PM
NEWSBTC
El Salvador President Nayib Bukele tweeted his forecasts for
Bitcoin in the year on New Year’s Day 2022, making some rather
bullish predictions. Bukele Make Bullish Predictions On Bitcoin
Under Bukele’s presidency, El Salvador became the first government
to embrace Bitcoin as legal tender last year as a countermeasure to
the country’s rising inflation. Since the country’s legalization,
the president has purchased 1,370 BTC for the country’s reserve and
spent the unrealized gains in new infrastructure projects like a
hospital and a school. In 2022, President Bukele expects two more
countries to join El Salvador in adopting Bitcoin as legal tender.
He also predicted a bull run that would push the price of Bitcoin
to a new all-time high of $100,000. 2022 predictions on #Bitcoin:
•Will reach $100k•2 more countries will adopt it as legal
tender•Will become a major electoral issue in US elections this
year•Bitcoin City will commence construction•Volcano bonds will be
oversubscribed•Huge surprise at @TheBitcoinConf — Nayib Bukele 🇸🇻
(@nayibbukele) January 2, 2022 Out of the six predictions he made,
it appears that “two more countries will adopt it as legal tender”
is rather cogent.w On September 7, 2021, El Salvador became the
first government to make BTC legal tender, igniting a revolution
that drew the attention of many other world leaders. This is an
intriguing statement, especially after El Salvador’s ambassador to
the United States, Milena Mayorga, stated that if Bitcoin adoption
is successful in El Salvador, other countries “will follow.”
Another point worth noting is that he believes Bitcoin will become
a big election topic in the United States this year. Parliamentary
elections will be held in the country, and this might be one of the
key issues of conversation in the United States. This might have a
significant impact on the cryptocurrency industry and how
businesses manage virtual currencies. Many politicians have
expressed support for the asset class, including 2020 Democratic
presidential candidate Andrew Yang and Republican senators Cynthia
Lummis and Warren Davidson. Other politicians in the United States
have expressed their concerns about the issue. Senator Elizabeth
Warren, for example, believes it favors just the wealthy. As more
lawmakers get educated on the subject, it will be fascinating to
see how Bitcoin regulation develops in the United States. BTC/USD
Fall further from christmas high. Source: TradingView Related
article | Zimbabwe Could Adopt Bitcoin As Legal Tender Following El
Salvador Bitcoin City To Begin El Salvador is also planning to
begin development on the so-called Bitcoin City in 2022. This might
be critical for Bitcoin businesses and investors looking to develop
across the continent. He predicts that volcano bonds will be
oversubscribed and that there is going to be a huge surprise at the
Bitcoin Conference this year. Late last year, El Salvador announced
plans to issue $1 billion in bonds to fund the purchase of more
bitcoin as well as electricity and mining infrastructure. The
project’s geothermal energy will be aided by the future city’s
proximity to the volcano. In a follow-up tweet, the President
stated, “This tweet will age well.” Bukele’s predictions appear to
be certain, but we’ll have to wait and see when and if they all
come true this year. Related article | El Salvador Calls Another
Bitcoin Dip With 150 BTC Purchase Featured image by BBC, Chart from
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