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Bitcoin Will Be Legal Tender in 2 More Countries This Year, El Salvador's President Predicts

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

El Salvor’s president has me six predictions relating to bitcoin for 2022. He expects two more countries to opt bitcoin as legal tender this year. Meanwhile, he expects El Salvor’s Bitcoin City to commence construction during the year and his country’s volcano bonds to be oversubscribed.

Bitcoin Predictions 2022 by President Bukele

The president of El Salvor, Nayib Bukele, tweeted on Jan. 1 his six predictions relating to bitcoin for the year 2022. El Salvor me bitcoin legal tender alongside the U.S. dollar in September last year.

Firstly, President Bukele expects the price of BTC to reach $100,000. Secondly, he believes that two more countries will opt bitcoin as legal tender.

El Salvor has purchased about 1,391 BTC altogether since bitcoin became its national currency.

Bukele is not the only one who expects more countries to opt bitcoin as legal tender by the end of 2022. The CEO of crypto exchange Bitmex, Alex Hoeptner, predicted in October last year that by the end of this year, “we’ll have at least five countries that accept bitcoin as legal tender.” He noted that “All of them will be developing countries.”

Furthermore, the Salvoran president expects Bitcoin City to commence construction this year. He announced his plan to build the world’s first bitcoin city powered by a volcano and financed by bitcoin bonds in November. He also said there would not be any taxes in the bitcoin city except for value-ded tax (VAT). Another prediction Bukele me was that the volcano bonds will be oversubscribed.

His Bitcoin City announcement came one day before the International Monetary Fund (IMF) issued a report warning El Salvor against using bitcoin as legal tender due to various risks associated with cryptocurrency. Bank of England Governor Andrew Bailey also raised concerns about bitcoin being used as legal tender in El Salvor.

Bukele also predicted there will again be a “huge surprise” at 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 legal tender, bitcoin national currency, Bitcoin Predictions, bitcoin price prediction, country opting Bitcoin, El Salvor, El Salvor’s president, Nayib Bukele, volcano, volcano bonds

What do you think about the 2022 predictions by El Salvor’s president? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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ARTICLE: Bitcoin Will Be Legal Tender in 2 More Countries This Year, El Salvor's President Predicts – Featured Bitcoin News
PUBLISHED: 2022-01-03 03:00:18 
SOURCE: https://news.bitcoin.com/bitcoin-legal-tender-2-more-countries-el-salvors-president-predicts/
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