Bitcoin Will Be Legal Tender in 2 More Countries This Year, El Salvador’s President Predicts

Bitcoin Will Be Legal Tender in 2 More Countries This Year, El Salvador's President Predicts

El Salvador’s president has made six predictions regarding bitcoin for 2022. He expects two extra nations to undertake bitcoin as authorized tender this 12 months. Meanwhile, he expects El Salvador’s Bitcoin City to begin development through the 12 months and his nation’s volcano bonds to be oversubscribed.

Bitcoin Predictions 2022 by President Bukele

The president of El Salvador, Nayib Bukele, tweeted on Jan. 1 his six predictions regarding bitcoin for the 12 months 2022. El Salvador made bitcoin authorized tender alongside the U.S. greenback in September final 12 months.

Firstly, President Bukele expects the value of BTC to achieve $100,000. Secondly, he believes that two extra nations will undertake bitcoin as authorized tender.

El Salvador has purchased about 1,391 BTC altogether since bitcoin turned its nationwide foreign money.

Bukele will not be the one one who expects extra nations to undertake bitcoin as authorized tender by the tip of 2022. The CEO of crypto alternate Bitmex, Alex Hoeptner, predicted in October final 12 months that by the tip of this 12 months, “we’ll have at the very least 5 nations that settle for bitcoin as authorized tender.” He famous that “All of them will probably be growing nations.”

Furthermore, the Salvadoran president expects Bitcoin City to begin development this 12 months. He introduced his plan to construct the world’s first bitcoin metropolis powered by a volcano and financed by bitcoin bonds in November. He additionally stated there wouldn’t be any taxes within the bitcoin metropolis aside from value-added tax (VAT). Another prediction Bukele made was that the volcano bonds will probably be oversubscribed.

His Bitcoin City announcement got here sooner or later earlier than the International Monetary Fund (IMF) issued a report warning El Salvador in opposition to utilizing bitcoin as authorized tender because of numerous dangers related to cryptocurrency. Bank of England Governor Andrew Bailey additionally raised concerns about bitcoin getting used as authorized tender in El Salvador.

Bukele additionally predicted there’ll once more be a “large shock” on the Miami Bitcoin Conference 2022 and that BTC “will turn into a serious electoral subject in U.S. elections.”

What do you concentrate on the 2022 predictions by El Salvador’s president? Let us know within the feedback part beneath.

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