El Salvador’s president has made six predictions relating to bitcoin for 2022. He predicts that this year, two other countries will accept bitcoin as legal currency. Meanwhile, he expects El Salvador’s Bitcoin City to commence construction during the year and his country’s volcano bonds to be oversubscribed.
Bitcoin Predictions by President Bukele 2022
Nayib Bukele, President of El Salvador, posted his predictions about bitcoin in January 1. El Salvador legalized bitcoin in September 2013 alongside the U.S. dollars.
First of all, President Bukele anticipates that bitcoin’s price to surpass $100,000. Second, Bukele believes that bitcoin will be legalized in two other countries.
El Salvador purchased approximately 1,391 BTC in total since the introduction of bitcoin as its national currency.
Bukele, however, is not the only one expecting more countries to accept bitcoin as legal currency by 2022. The CEO of crypto exchange Bitmex, Alex Hoeptner, predicted in October last year that by the end of this year, “we’ll have at least five countries that accept bitcoin as legal tender.” He noted that “All of them will be developing countries.”
The president of Salvador expects that Bitcoin City will be built this year. He announced his plan to build the world’s first bitcoin city powered by a volcano and financed by bitcoin bonds in November. The bitcoin city would be free of any tax, except value-added taxes (VAT). Bukele also predicted that volcano bonds would be highly sought-after.
The announcement of his Bitcoin City came just one day after the International Monetary Fund issued a warning to El Salvador about using Bitcoin as legal tender. This was due to various risk associated with cryptocurrency. Andrew Bailey, Governor of the Bank of England raised concern about Bitcoin being used in El Salvador as legal tender.
Bukele also predicted there will again be a “huge surprise” at the Miami Bitcoin Conference 2022 and that BTC “will become a major electoral issue in U.S. elections.”
What do you think about the 2022 predictions by El Salvador’s president? Leave your comments below.
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