President Nayib Bukele of El Salvador has made some shocking predictions for the future of Bitcoin in 2022. First of his prediction suggested that Bitcoin will be adopted under the “legal tender” by two further countries of the world as was done by his country.
In addition, he said that he will soon be commencing the work towards the establishment of Bitcoin City, which he had promised, in the present year as well.
President of El Salvador, Nayib Bukele, was the first executive of a country, who adopted Bitcoin under the “legal tender”. On 7th September 2021, Bitcoin became the officially recognized national digital currency of El Salvador. The day will be remembered and celebrated every year as “Bitcoin Day” in the history of El Salvador, said Bukele.
However, while everybody was welcoming 2022 and making their New Year resolutions, President Bukele was busy predicting. As usual, his predictions were aimed towards Bitcoin and its predicted future in 2022 which he revealed in a tweet post.
His first prediction of him regarding Bitcoin was about the specific value of Bitcoin in 2022. He commented that Bitcoin supporters wanted to see Bitcoin going across the US$ 100,000 in the past year.
However, it couldn’t do much because of several factors and regulatory hype was the major cause that created the hurdle. But the time is right now and 2022 will be the year in which Bitcoin will achieve US$ 100 K value.
Then he talked about the legal tendering of Bitcoin. He said that he is quite certain that Bitcoin will be adopted as legal tender by further two countries. However, he did not predict the names of those countries whom he thinks will be adopting Bitcoin as El Salvador did.
Thirdly he said that Bitcoin will play a crucial role in US politics, particularly in the US elections.
Fourthly, he predicted that the work relating to developing a Bitcoin city in El Salvador will commence within this year. He said that he would want to bring the global public into El Salvador for witnessing how benefitting Bitcoin city would be. It is the project which is very close to his heart, said President Bukele.
The adoption of Bitcoin as legal tender had earlier been predicted by several people amongst the Bitcoin community. For instance, crypto exchange Bitmex’s CEO had also said in October 2021 that Bitcoin will become legal tender in two potential countries.
There must be some basis because of which President Bukele and Bitmex’s CEO are confident about Bitcoin’s adoption in two further countries.
However, Bitcoin continues to be utilized as national digital currency in El Salvador and the initiative is going on very well. Meanwhile, El Salvador has been able to increase its Bitcoin treasury up to 1,391 Bitcoins. So far there are zero losses while profits are into hundreds of millions for the state of El Salvador.