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

Nayib Bukele, President of El Salvador, shared five bullish predictions about Bitcoin’s (BTC), performance in 2022 on Jan 2.

As a counter measure to rising inflation, El Salvador adopted Bitcoin last year. The president has purchased 1,370 BTC to replenish the country’s reserves and invested the unrealized gains in new infrastructure projects, including a school and hospital.

President Bukele predicts that El Salvador will be joined by two other countries to accept Bitcoin as a legal currency in 2022. He expects that the bull run will bring Bitcoin to an all-time high of $100,000 in the same year.

2022 predictions for #Bitcoin. *Will reach $100k. *2 additional countries will adopt it. *Will be a major electoral issue during the US elections this year. *Bitcoin City construction will begin *Volcano bonds are oversubscribed. *Huge surprise @TheBitcoinConf
— Nayib Buukele (@nayibbukele), January 2, 2022

Bukele sees a rapid growth in El Salvador’s two BTC-based initiatives, Volcano bonds and Bitcoin City. Cointelegraph reported that the president sees Bitcoin City as a fully functioning city, with shopping centers, restaurants and residential areas.

Bukele claims that “Bitcoin City” will begin construction this year. This would imply the creation of the virtual $1 billion BTC bond-backed city. He also predicts that Volcano bonds will be oversubscribed.

Bukele predicts that Bitcoin will be a major issue in the U.S. election this year, and he told his Twitter followers that he expects a “big surprise” at the Bitcoin 2022 conference.

This tweet will live on for a long time
— Nayib Buukele (@nayibbukele), January 2, 2022

Related: Salvadorans claim that funds are missing in their Chivo wallets

The mainstream adoption of Bitcoin in El Salvador was met with technical difficulties, including reports that funds were missing from Chivo, the country’s Bitcoin wallet.

Cointelegraph reported that at least 50 Salvadorans lost more than $96,000 due to an unknown glitch in Chivo’s wallet.

Hilo con algunos afectados por la Chivo Gualet. 1- $16,000 pic.twitter.com/EC3hehXKDz
— El Comisionado (@_elcomisionado_) December 18, 2021

https://cointelegraph.com/news/president-bukele-predicts-bitcoin-100k-rally-further-legal-adoption-and-more