Bitcoin will reach $100,000 in 2022, Predicts President Bukele

By Eddie Galdamez  |  Jan 5th, 2022
President Nayib Bukele
President Nayib Bukele.

On January 1st, 2022, Salvadoran president Nayib Bukele announced his predictions about the value and utility that bitcoin will have in the world in 2022.

The president has predicted that bitcoin will reach a value of $100,000 in 2022. The current price at the start of 2022 is about $47,000.

Also, Bukele assures that Bitcoin’s importance will be so great that “it will become an important electoral issue in the US elections this year.”

Some US politicians from both Democrats and Republicans political parties have already expressed support for cryptocurrency.

Furthermore, Bukele predicts two more countries will adopt it as legal tender. President Bukele ushered the Bitcoin Law last year, officially making BTC legal tender in the country on September 7th, 2021.

In recent months there has been movement from several countries that bitcoin could be introduced as a form of legal tender.

At a local level, the president predicts the start of the construction of Bitcoin City, and the proposed volcano Bonds will be a success.

[Bitcoin in 2022]•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.”

Bukele’s Bitcoin price projection is in addition to various forecasts made within the crypto ecosystem that forecast an increase in 2022.

To make things move faster, the Bukele administration will introduce 20 bills to provide the legal framework for Bitcoin bonds.

On Tuesday, Finance Minister Alejandro Zelaya remarked that the bills would cover regulations about issuing securities as cryptocurrency.

We can simply make payments without creating another Eurobond in the traditional market, and we can find a bond that is denominated in dollars and receives payment in Bitcoin.”

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