On New Years Day 2022, El Salvador’s President Nayib Bukele tweeted his predictions for Bitcoin in the coming year and made some very bold bets.
Apparently the biggest of the six predictions he made is that “two more countries will adopt it as legal tender”. El Salvador was the first country to make BTC legal tender on September 7, 2021, sparking a revolution that caught the attention of many other leaders. This is a very interesting prediction, especially after El Salvador’s Ambassador to the United States Milena Mayorga said that if they succeed in their country, other countries will “follow suit” in adopting Bitcoin.
Bitcoin “is set to become a major election topic in the US election this year,” he said. The discussion about Bitcoin in the United States among politicians has really heated up in the last year. Many politicians, including 2020 Democratic presidential candidate Andrew Yang, as well as Republican Senators Cynthia Lummis and Warren Davidson, showed their support for the asset class. While other US politicians have voiced their concerns on the issue. Like Senator Elizabeth Warren, who believes that only the rich benefit. It will be very interesting to see how bitcoin regulation plays out in America as more politicians educate themselves on the subject.
The construction of “Bitcoin City will begin,” claimed the president. The announcement of this paradise for Bitcoiners came at the end of Bitcoin Week in El Salvador, where two BTC-focused conferences LaBitConf and Adopting Bitcoin were held. The announced plans for the city claim they will have 0% income, capital gains, property, salary and local taxes, and 0% carbon emissions.
In addition, he predicted that their Bitcoin bonds issued on Blockstream’s Liquid Network will be “oversubscribed”.
President Bukele is betting that Bitcoin will finally reach the long-awaited target of $ 100,000 per coin. That price target seemed like many people’s prediction for 2021, but ultimately missed an all-time high of $ 69,010 per Clark Moody Dashboard.
Finally, he claimed there would be a “huge surprise” at the Bitcoin 2022 conference in Miami, Florida this coming April. Last summer, Bukele announced, with the help of Strike CEO Jack Mallers, that he would submit a bill to Congress to establish Bitcoin as legal tender in El Salvador. One can only guess what announcement he has up his sleeve for this year’s conference, which he will attend personally.
Following a second tweet, the president said, “This tweet will age well.” It seems Bukele has a sense of certainty in his predictions, but we’ll have to wait and see when and if they all come true this year.