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President Bukele predicts Bitcoin $100k rally, further legal adoption and that’s only the tip of the iceberg

Bukele additionally imagines an approaching dangerous development for El Salvador’s two in-house BTC-based drives — Bitcoin City and Volcano
bonds.

On Jan 2, El Salvador President Nayib Bukele shared five bullish expectations on Bitcoin’s (BTC) execution for the year 2022.

El Salvador President Nayib Bukele speaks during a joint press conference with his Guatemalan President Alejandro Giammattei (out of frame) at the presidential palace in San Salvador, on January 27, 2020. (Photo by MARVIN RECINOS / AFP) (Photo by MARVIN RECINOS/AFP via Getty Images)

Last year, El Salvador turned into the primary country to take on Bitcoin as lawful delicate under Bukele’s administration as a countermeasure to the developing expansion in the country. Since legitimization, the president procured 1,370 BTC for the nation’s save and reinvested its undiscovered additions into new foundation projects including an hospital and a school.

President Bukele anticipated that two additional nations will join El Salvador to embrace Bitcoin as a legal tender in 2022. Around the same time, he expects a bull run that will take BTC cost to another untouched high of $100,000.

Bukele additionally imagines an approaching dangerous development for El Salvador’s two in-house BTC-based drives — Bitcoin City and Volcano bonds. As we recently detailed, the president anticipates Bitcoin City to turn into a completely utilitarian city with neighborhoods, malls, eateries, a port, “everything around Bitcoin.”

As per Bukele, “Bitcoin City will begin development” this year, inferring the improvement of the $1 billion BTC bonds-upheld virtual city. Alongside this turn of events, he predicts an oversubscription of the Volcano bonds.

Bukele additionally predicts that Bitcoin will turn into a significant appointive issue in U.S. elections this year and advised his Twitter supporters to be watching out for “a colossal shock” at Bitcoin 2022 meeting.

El Salvador’s standard Bitcoin reception met with a progression of specialized obstacles, the most recent being reports of missing assets from the nation’s in-house Bitcoin wallet, Chivo.

As we revealed, somewhere around 50 Salvadorans detailed misfortunes adding up to more than $96,000 in December, because of a supposed obscure error in the Chivo wallet.