President Bukele predicts Bitcoin $100k rally, further legal adoption and more

On
Jan
2,
El
Salvador
President
Nayib
Bukele
shared
five
bullish
predictions
on
Bitcoin’s
(BTC)
performance
for
the
year
2022. 

Last
year,
El
Salvador
became
the

first
country
to
adopt
Bitcoin
as
legal
tender

under
Bukele’s
presidency
as
a
countermeasure
to
the
growing
inflation
in
the
country.
Since
legalization,
the
president
acquired
1,370
BTC
for
the
country’s
reserve
and
reinvested
its
unrealized
gains
into
new
infrastructure
projects
including
a

hospital

and
a

school
.

President
Bukele
predicted
that
two
more
countries
will
join
El
Salvador
to
adopt
Bitcoin
as
a
legal
tender
in
2022.
In
the
same
year,
he
expects
a
bull
run
that
will
take
BTC
price
to
a
new
all-time
high
of
$100,000.

Bukele
also
envisions
an
oncoming
explosive
growth
for
El
Salvador’s
two
in-house
BTC-based
initiatives


Bitcoin
City
and
Volcano
bonds
.
As
Cointelegraph
previously
reported,
the
president
foresees
Bitcoin
City
to
become
a
fully
functional
city
with
residential
areas,
shopping
centers,
restaurants,
a
port,
“everything
around
Bitcoin.”

According
to
Bukele,
“Bitcoin
City
will
commence
construction”
this
year,
implying
the
development
of
the
$1
billion
BTC
bonds-backed
virtual
city.
Along
with
this
development,
he
predicts
an
oversubscription
of
the
Volcano
bonds.

Bukele
also
predicts
that
Bitcoin
will
become
a
major
electoral
issue
in
U.S.
elections
this
year
and
told
his
Twitter
followers
to
be
on
the
lookout
for
“a
huge
surprise”
at
Bitcoin
2022
conference.


Related:




Some
Salvadorans
claim
funds
are
missing
from
their
Chivo
wallets

El
Salvador’s
mainstream
Bitcoin
adoption
met
with
a
series
of
technical
hurdles,
the
latest
being
reports
of
missing
funds
from
the
country’s
in-house
Bitcoin
wallet,
Chivo.

As
Cointelegraph
reported,
at
least
50
Salvadorans
reported
losses
totaling
more
than
$96,000
in
December,
due
to
an
alleged
unknown
glitch
in
the
Chivo
wallet.

read original article here