Bukele has predicted the upcoming explosive growth for two of El Salvador's in-house Bitcoin-based initiatives, Bitcoin City and Volcano Bonds.
The President of El Salvador makes a series of Bitcoin predictions for 2022
On January 2, President of El Salvador – Nayib Bukele shared 5 optimistic predictions about BTC performance in 2022.
Last year, El Salvador became the first country to adopt Bitcoin as a legal asset as a countermeasure to growing inflation in the country. Since legalization, Bukele has bought back 1,370 BTC for the country's reserve fund and reinvested unrealized profits into new infrastructure projects including hospitals and schools.
President Bukele predicts that two more countries will follow in El Salvador’s footsteps to adopt BTC as a legal asset by 2022. In the same year, he predicted that there will be a bull run that brings the price of BTC. to an all-time high of $100,000.
Bukele also predicts explosive growth to come for two of El Salvador's in-house BTC-based initiatives, Bitcoin City and Volcano Bonds. As previously reported, Bitcoin City will become a fully functional city with residential areas, shopping malls, restaurants, harbours, etc.
According to Bukele, the Bitcoin city will begin construction this year, the city's development backed by $1 billion worth of BTC bonds. Along with this development, he predicted an oversubscription of Volcano bonds.
Additionally, Bukele also predicts that BTC will become a major issue in the US elections this year and tells his Twitter followers to watch out for a big surprise at the Bitcoin 2022 conference. .
At least 50 El Salvadorans reported losses totaling more than $96,000 in December, due to an unknown glitch from the Chivo wallet.