2 More Countries Will Legalize Bitcoin In 2022, President Of World's First Country To Do So Predicts
The President of Central American Country El Salvador, Nayib Bukele, tweeted a few days back sharing his 6 predictions around Bitcoin for 2022, which included the prediction that two more countries will legalize Bitcoin in 2022.
Just a few months ago, El Salvador became the world¡¯s first nation to officially adopt Bitcoin as a legal tender in September 2021.
We all have been witness to how rapidly the crypto world has been evolving day by day, with 2021 being no less than a historic year in itself.
And now, the President of Central American Country El Salvador, Nayib Bukele, tweeted a few days back sharing his 6 predictions around Bitcoin for 2022.
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The President's Tweet
Here¡¯s the tweet he shared.
2022 predictions on #Bitcoin:
¡ª Nayib Bukele ?? (@nayibbukele) January 2, 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
?Huge surprise at @TheBitcoinConf
According to the Salvadoran President, not only will Bitcoin price reach $100,000 per token mark this year, but it will also be adopted as legal tender by two more countries.
Further, he mentioned that the oldest cryptocurrency in the world, Bitcoin, will emerge as a major electoral issue in the US this year.
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The Bitcoin City
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Salvador President¡¯s tweet also stated that the construction work on his much anticipated ¡°Bitcoin City¡± project will also kick start this year. With this project, Bukele aims to set up a Bitcoin-powered city in the eastern region of La Union, which will get its energy from a volcano, besides not levying any taxes except for value-added tax (VAT) on the residents.
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IMF¡¯s Warning
The International Monetary Fund (IMF) had warned El Salvador to stop using Bitcoin as legal tender. The IMF's caution originated given Bitcoin's high price volatility and associated risks to factors such as consumer protection, financial integrity, as well as financial stability.
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Shrugging Off The ¡®Concerns¡¯
Even recently in December 2021, the governor of the Bank of England (BoE) Andrew Bailey expressed concerns towards the citizens of El Salvador, questioning if they were even aware of the risks they have exposed their finances to due to legalizing Bitcoin.
Despite these warnings and concerns, President Bukele has continued to remain a Bitcoin supporter.
In fact, just before 2021 wrapped up, he tweeted to predict the end of fiat currencies altogether in the near future owing to the increased popularity of Bitcoin.
What has been called by international organizations as ¡°The #Bitcoin Experiment¡±, is nothing more than the world watching how mass adoption changes a country¡¯s economy.
¡ª Nayib Bukele ?? (@nayibbukele) December 23, 2021
If it¡¯s for the good, it¡¯s game over for FIAT.
El Salvador is the spark that ignites the real revolution.
As of now, no other country besides El Salvador has officially confirmed or hinted about considering the adoption of Bitcoin or any other cryptocurrencies as legal tender.
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