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

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 Bitcoin City in El Salvador to begin construction later this year and his country's volcano bonds to be oversubscribed.

Bitcoin Predictions 2022 by President Bukele

El Salvador's President Nayib Bukele tweeted his six Bitcoin-related predictions for 2022 on January 1. El Salvador made Bitcoin legal tender alongside the US dollar in September last year.

Firstly, President Bukele expects the price of BTC To reach $100,000. Second, he believes that two more countries will adopt Bitcoin as legal tender.

El Salvador has bought approximately 1,391 BTC since Bitcoin became its national currency.

Bukele is not the only one who expects more countries to adopt Bitcoin as legal tender by the end of 2022. The CEO of the crypto exchange Bitmex, Alex Hoeptner, predicted in October last year that by the end of this year “we will have at least five countries accepting Bitcoin as legal tender.” He noted that “all of them will be developing countries.”

Additionally, the Salvadoran president expects construction of Bitcoin City to begin this year. In November, he announced his plan to build the world's first Bitcoin city, powered by a volcano and funded by Bitcoin bonds. He also said that there would be no taxes in Bitcoin City other than value added tax (VAT). Another prediction Bukele made was that the volcano bonds will be oversubscribed.

His Bitcoin City announcement came a day before the International Monetary Fund (IMF) released a report warning El Salvador opposes the use of Bitcoin as legal tender due to various risks associated with cryptocurrency. Bank of England Governor Andrew Bailey has also raised concerns Issue on the use of Bitcoin as legal tender in El Salvador.

Bukele also predicted that there will be another “huge surprise” at the Miami Bitcoin Conference 2022 and that BTC “will become an important electoral issue in the US elections.”

What do you think of the President of El Salvador's predictions for 2022? Let us know in the comments section below.

Kevin Helms

Kevin, an Austrian economics student, found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the interface between economics and cryptography.

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