Nayib Bukele: Bitcoin will reach $ 100,000 in 2022 and more countries will introduce Bitcoin
Although Bitcoin disappointed at the end of 2021, optimism for the new year prevails in the crypto community. One of the optimists is El Salvador’s President Nayib Bukele, whose actions and comments have definitely influenced the crypto market in 2021. Now he has named several things that will stand up for Bitcoin in 2022. Nayib Bukele believes Bitcoin will hit the long-awaited $ 100,000 mark. That target was missed in 2021 after a disappointing fourth quarter.
In a tweet, President Nayib Bukele shared some of his Bitcoin predictions for 2022. Two more countries would adopt Bitcoin as legal tender, he says.
El Salvador was the first country to do this, and while this has been widely welcomed in the crypto community, the country has come under political pressure
But his prediction is shared by other celebrities, including Bitmex crypto exchange boss Alex Hoeptner, who said that by the end of 2022, at least five countries will adopt Bitcoin as legal tender.
There are two other predictions by Bukele that directly affect El Salvador. He confirmed that the construction of the “Bitcoin City” will begin in El Salvador. With this, the country wants to take on a pioneering role in digital education, sustainable energy reserves and the development of green mining in the world.
The president also predicts that the country’s “volcanic bonds” will be oversubscribed. El Salvador plans to issue a billion dollars in tokenized bonds with a term of ten years and an interest rate of 6.5%. Half of the funds are to be used for infrastructure and Bitcoin mining with geothermal energy. There is a five year lock-up period after which the government will start selling their bitcoins and paying the interest to investors.
President Bukele has also promised a big surprise at the Bitcoin 2022 conference , where he is expected to speak. Microstrategy boss Michael Saylor, Adam Back and former presidential candidate Andrew Yang will also take part.
While President Bukele is positive about the country’s investment in Bitcoin, there have also been problems. Late last year, several local investors claimed that Bitcoin would disappear from their state-controlled Chivo wallets.
At press time, Bitcoin is trading for $ 46,000. If Bukele’s forecast for 2022 is correct, it means that the Bitcoin price must more than double. As industry experts anticipate larger institutional investments and a general rise in interest in cryptocurrency for the sake of inflation hedge in the new year, many of them assume that Bitcoin will continue its upward trend.
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