El Salvador’s president: Bitcoin price to reach $100,000 in 2022
El Salvador’s president Nayib Bukele expressed confidence that Bitcoin would reach $100,000 in 2022.
2022 predictions on #Bitcoin:
•Will reach $100k
•2 more countries will adopt it as legal tender
•Will become a major electoral issue in US elections this year
•Bitcoin City will commence construction
•Volcano bonds will be oversubscribed
•Huge surprise at @TheBitcoinConf— Nayib Bukele 🇸🇻 (@nayibbukele) January 2, 2022
Bukele also suggested that:
- Two more countries will recognise Bitcoin as legal tender;
- Digital gold will become a key issue in the выборах в Палату представителей США;
- Bitcoin City will begin construction;
- subscriptions to криптооблигации (Volcano bonds) will exceed their market supply.
Among other things, the Salvadoran president promised a “big surprise” at the Bitcoin 2022 conference. The event will be held from 6 to 9 April in Miami. In addition to Bukele, participants will include:
- MicroStrategy chief Michael Saylor;
- a leading representative of the австрийской экономической школы Saifedean Ammous;
- Blockstream CEO Adam Back;
- Lightning Labs founder Elizabeth Stark and other notable figures in the crypto industry.
Following the legalisation of Bitcoin in September, the Salvadoran government purchased 550 BTC through a specially created fund. Subsequently it bought 150 BTC during the price dip to $45,000.
In October, authorities boosted their reserves of the primary cryptocurrency by another 420 BTC, again taking advantage of a local price correction. In November, the state fund purchased 100 BTC.
El Salvador also began mining cryptocurrency, using geothermal volcanic energy. Bukele posted the first rewards on 1 October.
Some experts doubted the economic viability of mining with volcanic energy.
Earlier, the Salvadoran government bought 21 BTC to celebrate “the last 21 days of the 21st century”.
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