‘Huge Surprise’—El Salvador’s President Issued Six Big Bitcoin Predictions As The Price Of Ethereum, BNB, Solana, Cardano And XRP Limp Into 2022

- Advertisement -


Bitcoin and cryptocurrency had its biggest year ever in 2021, with El Salvador becoming the first country in the world to adopt bitcoin as legal tender (though not everyone is convinced).

- Advertisement -

Subscribe now to Businesshala’ cryptoasset and blockchain advisory and discover new NFT and crypto blockbusters ready for 1,000% profit.

- Advertisement -

The price of bitcoin has risen from around $30,000 per bitcoin this time last year to around $50,000 today. Other major cryptocurrencies Ethereum, Binance’s BNB, Solana and Cardano have seen significant gains, with the price of Ethereum rising nearly 400% over the past year and Ethereum rival Solana up a mind-numbing 10,000%.

Now, El Salvador millennial president Nayib Bukele has issued a flurry of bitcoin predictions for 2022 – in which the price of bitcoin will more than double to $100,000.

- Advertisement -

Sign up now for free cryptocodex—a daily newspaper for the crypto-curious. Every workday, helping you understand the world of bitcoin and crypto

more from BusinesshalaElon Musk Reveals Bitcoin Creator Satoshi Nakamoto Theory, Admits He Doesn’t ‘Get’ Ethereum and Issues Dogecoin Mars Prediction Amid Crypto Price Crash

Bitcoin Will “Reach $100,000” in 2022, Posts Bukele for twitter, teasing a “huge surprise” at this year’s Miami Bitcoin Conference in April, where El Salvador’s plans to adopt bitcoin as one of its official currencies alongside the US dollar were first unveiled last year. went. However, Bukele’s bitcoin price prediction is pale in comparison to some.

The price of bitcoin peaked at $69,000 per bitcoin in November and then dropped to below $50,000. Bitcoin Price Drops to $30,000 Over Summer After Latest China Crypto Crackdown & Tesla
TSLA
Billionaire Elon Musk appears to be souring on bitcoin – and adopting the meme-based Dogecoin as his pet project.

Many predicted that the price of bitcoin would reach $100,000 before the start of 2022, but Bitcoin, Ethereum, Binance’s BNB, Solana, Cardano and XRP have all struggled towards the end of the year. Due to rising inflation and fears over the Federal Reserve’s outlook for 2022, the combined bitcoin and crypto market capitalization has lost nearly $800 billion since November, falling from a peak of nearly $3 trillion.

Following Bukele’s blustery announcement at the Miami Bitcoin Conference, El Salvador officially made bitcoin the national currency in September and gradually bought a total of 1,141 bitcoins. Reuters Count-buying more regularly.

Last month, El Salvador bought 21 more bitcoins to mark the 21st day of the last month of the 21st century, Bukele revealed on Twitter, where he introduced himself as the CEO of El Salvador and last year. Briefly changed his Twitter. Bio to “The Tyrant.” The number 21 is important to bitcoin because there will only be 21 million bitcoins.

cryptocodex—A free, daily newsletter for the crypto-curious

more from BusinesshalaBiggest Bulls in Bitcoin Predict a Wild $6M Price as Ethereum Rivals Make Huge Profits

Bukele’s 2o22 bitcoin prediction also included: “[two] More countries will adopt it as legal tender, [bitcoin] The construction of Bitcoin City will begin this year in what will become a major election issue in the US elections. [and] Volcano bonds will be oversubscribed”—referring to the recently announced new low-tax city, which will be built with money from $1 billion bitcoin-backed bonds and powered by geothermal energy from a nearby volcano.

Some of El Salvador’s regional neighbors that are also dependent on the US dollar have said they are closely watching the country’s bitcoin experiment for signs of success. Some political leaders have indicated that they would be willing to adopt bitcoin if it is able to reduce remittance costs as claimed by Bukele.

Meanwhile, in the US, the mayors of both New York and Miami are campaigning for their cities to become bitcoin and crypto hubs, both promising to draw paychecks to bitcoin and attract investors. On Capitol Hill, bitcoin and crypto lobbyists have emerged as a new force in 2021, working to shape the rules governing the crypto space, reflecting the technology’s popularity.

In December, a closely-watched analyst said he expects the US to “embrace cryptocurrencies in 2022” – forecasting the price of bitcoin “appears to be on a trajectory to $100,000” and that of Ethereum. The price can reach up to $5,000.

Former Twitter CEO Jack Dorsey, who recently left the social media giant to develop his own payments company, made headlines when he predicted that bitcoin would eventually replace the US dollar.

,

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox