El Salvador President Nayib Bukele made five positive forecasts for Bitcoin (BTC) success in 2022 earlier on January 2.
With Bukele’s president, El Salvador became the inaugural government to embrace BTC as legal money last year as a protective measure to the country’s rising inflation. Following the cryptocurrency’s legalization, the president has purchased 1,370 BTC for the country’s reserve and reinvested its unrealized gains in fresh development initiatives such as a hospital and a school.
In 2022, President Bukele predicts that two more nations will join El Salvador in making Bitcoin an official tender. That exact year, he anticipates a bull run that would push the price of Bitcoin to a record all-time high of $100,000.
Bukele also sees exponential expansion for El Salvador’s two in-house BTC-based ventures, Bitcoin City and Volcano bonds, in the near future. As revealed earlier, the president envisions BTC Metropolis being a completely operational city with residential sections, commercial complexes, restaurants, a port, and “everything around BTC.”
As per Bukele, “Bitcoin Metropolis will begin building” this year, meaning that the $1 billion BTC bonds-backed virtual city would be built. Besides this trend, he anticipates a Volcano bond oversubscription.
Bukele also believes that Bitcoin would be a big political problem in the United States’ elections this year, and he warns his Twitter followers to expect a “great surprise” at the BTC 2022 event.
El Salvador’s widespread BTC acceptance has been hampered by a wide range of technology issues, the most recent of which being claims of stolen coins from the nation’s in-house Bitcoin wallet, Chivo.
According to sources, a minimum of 50 Salvadorans claimed damages totalling over $96,000 in December as a result of an apparent undisclosed bug in the Chivo wallet.