The President of El Salvador has made six bitcoin predictions for 2022. He expects two more countries to adopt bitcoin as legal tender this year. Meanwhile, he expects El Salvador’s Bitcoin City to start construction during the year and his country’s volcanic bonds will be oversubscribed.
Bitcoin 2022 predictions by President Bukele
El Salvador President Nayib Bukele tweeted his six bitcoin predictions for the year 2022 on January 1. El Salvador made bitcoin legal tender alongside the US dollar in September of last year.
First, President Bukele expects the price of BTC to reach $ 100,000. Second, he believes two more countries will adopt bitcoin as legal tender.
El Salvador has bought around 1,391 BTC in total since bitcoin became its national currency.
Bukele isn’t the only one who expects more countries to adopt bitcoin as legal tender by the end of 2022. CEO of the Bitmex crypto exchange, Alex Hoeptner, predicted in October of l ‘last year that by the end of this year, “we will have at least five countries that accept bitcoin as legal tender. He noted that “all will be developing countries”.
Additionally, the Salvadoran president expects Bitcoin City to begin construction this year. He announced his plan to build the world’s first volcano-fueled bitcoin city funded by bitcoin bonds in November. He also said that there would be no taxes in the city of bitcoin except for the value added tax (VAT). Another prediction made by Bukele was that the volcanic bonds would be oversubscribed.
His Bitcoin City announcement came a day before the International Monetary Fund (IMF) released a report warning El Salvador against using bitcoin as legal tender due to various risks associated with cryptocurrency. Bank of England Governor Andrew Bailey has also raised concerns over the use of bitcoin as legal tender in El Salvador.
Bukele also predicted that there would be a “huge surprise” again at the Miami Bitcoin 2022 conference and that BTC “would become a major electoral issue in the US election.”
What do you think of the Salvadoran president’s 2022 forecast? Let us know in the comments section below.
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