Last year, El Salvador sent a wave of waves through the crypto community when it announced the adoption of a leading digital medium as a legal tender within its jurisdiction.
Since then, the president of that Central American country has been widely praised by the crypto community as a revolutionary for his pro-crypto attitude, which has made him many friends in the industry.
President Bukele gives a bullish prediction of Bitcoin
President Nayib Bukele, on January 2, made several positive predictions for Bitcoin, stating his belief that the property will not only enjoy more adoption in countries around the world, but we could also see its value reach as high as $ 100,000 before the end of this year .
Predictions for 2022 #Bitcoin:
• It will reach $ 100,000
• 2 more countries will adopt it as legal tender
• It will become a major election issue in this year’s U.S. election
• Bitcoin City will begin construction
• Volcanic bonds will be subscribed to
• Huge surprise at @TheBitcoinConf
– Nayib Bukele 🇸🇻 (@nayibbukele) January 2, 2022
Not only that, but President Bukele also predicted that the long-awaited development of the Bitcoin city in the country will begin this year and that crypto-assets will be the main point of discussion in the elections in the United States.
You may recall that we reported that lawmakers in the United States are increasingly interested in how digital assets like Bitcoin and the crypto industry in general could affect a country’s economy. This led to the fact that they called a series of hearings at which they sought the opinion of experts in space.
Also, President Bukele’s prediction of Bitcoin price confirms several widespread projections for the coin, as many analysts have predicted that the assets before the end of 2021 will be worth as much as $ 100,000. Although assets could not exceed that level during the previous year, many shifted the focus to this new year and predicted that BTC could finally reach six-digit levels this year.
So far Bitcoin trip El Salvador
As we said earlier, El Salvador became the first country to accept Bitcoin as a legal tender in the world. Although the crypto community welcomed his decision, leading financial organizations such as the International Monetary Fund (IMF) have expressed concern about the impact of the decision on the country’s economy.
However, despite these concerns, El Salvador continued to pursue its crypto agenda. At the time of the press, the Central American country had bought more than 1,300 units of Bitcoin, and the president revealed that the profits made by the purchase had been reinvested in infrastructure projects.
In addition, El Salvador has revealed its intention to build the world’s first Bitcoin city to run a volcano and that residents of this city will pay only VAT as taxes. According to available information, the financing of the city would mainly take place through bonds with Bitcoin.
It should be noted that despite all the positive things related to adoption in the country, some citizens have expressed concern about the way the country manages its cryptocurrency purchases and problems with its official Bitcoin wallet, Chivo.
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