In Brief:
- The forecasts discuss the significant events that may occur in Bitcoin this year.
- Bitcoin will reach a price of $100k in 2022.
- Bukele thinks that 2 more countries will follow suit as EL Salvador.
In 2021, Bitcoin and cryptocurrency had their best year ever, with El Salvador becoming the first country in the world to adopt bitcoin as legal tender. Cryptocurrencies were a major theme in financial news in 2021, with investors increasingly tracking the sometimes volatile movements in tokens like Bitcoin and Ethereum. The 2022 crypto mergers and acquisitions party has just begun.
As a result, El Salvador and its millennial president are the most crypto-advanced. And now, on the eve of the new year, Nayib Bukele offers his Bitcoin predictions for 2022. The forecasts discuss the significant events that may occur in Bitcoin this year.
The first prediction is that Bitcoin will reach a price of $100k in 2022. While we all hoped and dreamed that $100k would appear in 2021, it did not. As a result, the chances of something similar happening in 2022 are extremely high. And the $10k price tag is such a significant achievement that it is certain to attract a slew of new investors and businesses to the space.
In fact, Bukele thinks that 2 more countries will follow suit as EL Salvador and accept bitcoin as legal tender. Paraguay seems to top his list.
Bitcoin breaking $100,000 will put the market cap at about $2 trillion, nearly 20 percent of Gold’s market cap.In November, the bitcoin price reached a high of slightly over $69,000 per bitcoin before plummeting to around $50,000. Following the latest China crypto crackdown and Tesla billionaire Elon Musk appearing to be sour on bitcoin, the price of bitcoin plunged as low as $30,000 this summer.
Nayib also predicts an enormous role that Bitcoin is going to play in major electoral issues in the US in 2022. This is evidenced by the fact that politicians have extremely varied perspectives on Bitcoin. Cynthia Lummis, Warren Davidson, and Andrew Yang, have expressed their support for Bitcoin whereas Elizabeth Warren has opposed the asset class. This draws a clear boundary between two political ideologies.
He also revealed the Bitcoin city that will be constructed in El Salvador. The building of the same will begin in 2022. And, because they’re mining a lot of Bitcoins with the volcano’s renewable energy, the volcano bonds for the same will be oversubscribed.
Like last year’s Bitcoin conference in Miami, Florida, in April where El Salvador seized the opportunity to announce their plans to make Bitcoin legal tender in the country. According to Nayib Bukele this time as well, there is going to be some huge surprise at the Bitcoin conference 2022.
