El Salvador’s President Nayib Bukele Predicts Bitcoin’s Future

President Bukele tweeted his expectations for Bitcoin in the following year, which included a price goal of $100,000.

On New Year’s Day 2022, El Salvador President Nayib Bukele tweeted his predictions for Bitcoin in the coming year, making some fairly large bets. “Two more countries will embrace it as legal tender,” according to one of his six predictions.

El Salvador became the first nation to declare BTC legal tender on September 7, 2021, sparking a revolution that caught the attention of many other world governments.

This is a fascinating comment, especially after El Salvador’s ambassador to the US, Milena Mayorga, stated that if Bitcoin adoption is successful in El Salvador, “other countries would follow.”

Bitcoin “will become a big electoral issue in this year’s US elections,” he said. Over the last year, officials in the United States have become increasingly interested in Bitcoin.

Many politicians have expressed support for the asset class, including 2020 Democratic presidential contender 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 favours 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.

The construction of “Bitcoin City” will begin, according to the president. The announcement occurred at the close of Bitcoin week in El Salvador, which included two BTC-focused conferences, LaBitConf and Adopting Bitcoin.

According to the city’s announced intentions, it will have 0% income, capital gains, property, payroll, and municipal taxes, as well as 0% CO2 emissions. Furthermore, he expects their Bitcoin bonds, which will be issued on Blockstream’s Liquid Network, will be “oversubscribed.”

President Bukele’ Prediction For 2022

President Bukele believes bitcoin will finally reach its long-awaited $100,000 per coin target. Many people predicted that price target for 2021, but it eventually fell short, reaching an all-time high of $69,010 per Clark Moody Dashboard.

Finally, during the Bitcoin 2022 conference in Miami, Florida this April, he promised a “huge surprise.” Last summer, Bukele announced that he will be introducing a bill to Congress to make bitcoin legal tender in El Salvador, with the help of Strike CEO Jack Mallers.

It’s impossible to know what he has planned for this year’s gathering, which he will be attending in person. “This tweet will age magnificently,” the President said in a follow-up tweet. Bukele’s forecasts appear to be accurate, but we’ll have to wait and see if they all come true this year.

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