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January 22, 2022
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Bitcoin Will Be Legal Tender in 2 More Countries This Year, El Salvador’s President Predicts – Featured Bitcoin News

El Salvador’s president has made six predictions regarding bitcoin for 2022. He expects two extra international locations to undertake bitcoin as authorized tender this yr. Meanwhile, he expects El Salvador’s Bitcoin City to begin development through the yr and his nation’s volcano bonds to be oversubscribed.

Bitcoin Predictions 2022 by President Bukele

The president of El Salvador, Nayib Bukele, tweeted on Jan. 1 his six predictions regarding bitcoin for the yr 2022. El Salvador made bitcoin authorized tender alongside the U.S. greenback in September final yr.

Firstly, President Bukele expects the price of BTC to achieve $100,000. Secondly, he believes that two extra international locations will undertake bitcoin as authorized tender.

El Salvador has bought about 1,391 BTC altogether since bitcoin grew to become its nationwide foreign money.

Bukele will not be the one one who expects extra international locations to undertake bitcoin as authorized tender by the top of 2022. The CEO of crypto trade Bitmex, Alex Hoeptner, predicted in October final yr that by the top of this yr, “we’ll have at least five countries that accept bitcoin as legal tender.” He famous that “All of them will be developing countries.”

Furthermore, the Salvadoran president expects Bitcoin City to begin development this yr. He introduced his plan to construct the world’s first bitcoin metropolis powered by a volcano and financed by bitcoin bonds in November. He additionally mentioned there wouldn’t be any taxes in the bitcoin metropolis apart from value-added tax (VAT). Another prediction Bukele made was that the volcano bonds will probably be oversubscribed.

His Bitcoin City announcement got here in the future earlier than the International Monetary Fund (IMF) issued a report warning El Salvador towards utilizing bitcoin as authorized tender on account of varied dangers related to cryptocurrency. Bank of England Governor Andrew Bailey additionally raised issues about bitcoin getting used as authorized tender in El Salvador.

Bukele additionally predicted there’ll once more be a “huge surprise” on the Miami Bitcoin Conference 2022 and that BTC “will become a major electoral issue in U.S. elections.”

Tags in this story
2022 predictions, bitcoin bonds, Bitcoin City, bitcoin authorized tender, bitcoin nationwide foreign money, Bitcoin Predictions, bitcoin price prediction, nation adopting Bitcoin, El Salvador, El Salvador’s president, Nayib Bukele, volcano, volcano bonds

What do you consider the 2022 predictions by El Salvador’s president? Let us know in the feedback part under.

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Kevin Helms

A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source techniques, community results and the intersection between economics and cryptography.

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