El Salvador’s President Predicts That Two More Countries Will Adopt Bitcoin as Legal Tender This Year
President Nayib Bukele of El Salvador recently offered many Bitcoin-related predictions for the new year on Twitter.
Bukele is certain that at least two other nations will follow El Salvador’s example and legalise the biggest cryptocurrency.
In October, BitMEX CEO Alexander Höptner made an even more bullish prognosis, stating that up to five developing nations will adopt Bitcoin as a result of inflation worries and high remittance fees.
El Salvador, Central America’s smallest nation, approved Bitcoin as its legal currency in early September, laying the groundwork for “hyperbitcoinization.”
Bukele said in November that the government has joined with blockchain infrastructure company Blockstream to issue $1 billion in sovereign Bitcoin bonds, a first for a nation-state. A portion of the debt collected will be utilised to develop the world’s first Bitcoin city near the Conchagua volcano.
Bukele believes in his most recent thread that the government will begin building on the city this year and that volcano bonds will be oversubscribed.
A $100,000 goal
Bukele also made a bullish Bitcoin price forecast, asserting that the world’s biggest cryptocurrency would eventually surpass the desired $100,000 mark in 2022.
According to U.Today, Fundstrat’s Tom Lee is equally sure that the flagship cryptocurrency would surpass the aforementioned threshold this year, even anticipating a surge to $200,000. Having said that, Lee said that 2021 was a “disappointing” year for the leading cryptocurrency, which concluded below $50,000. Brock Pierce, a cryptocurrency tycoon, reportedly predicted that Bitcoin’s price may reach $200,000 this year.