El Salvador’s Bukele: Bitcoin Will Hit $100K in 2022

El Salvador’s head of state forecasts that bitcoin will soar to a six-digit price target before the end of 2022.

El Salvador president Nayib Bukele predicts that the world’s largest cryptocurrency will hit a price of $100,000 before the end of the year, after the South American country recently adopted it as official legal tender. In the tweet published on Sunday, Bukele also hinted that two other countries will adopt bitcoin as sovereign currency, and that the digital token could become a “major electoral issue” during the US midterm elections in November.

in September, El Salvador became the first country in the world to adopt bitcoin as an official currency, drawing ire from established financial markets as well as the International Monetary Fund. However, Bukele remains unfazed, and in November revealed plans for a $1 billion “Bitcoin Bond” with a 10-year maturity to be debuted on the Liquid Network. Half of the proceeds from the bond sale will be used to fund the first ever “Bitcoin City,” which is expected to begin construction this year.


Information for this briefing was found via twitter. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

Antimony Resources Drills 5.27% Sb Over 4.95 Metres In Latest Results

Nord Precious Metals Identifies 29 Veins At Castle East Following 3D Modeling

Related News

Max Keiser Wants to ‘Settle the Score’ with Donald Trump After Comments Against El Salvador’s Nayib Bukele

Former President Donald Trump’s recent comments at the Republican National Convention have caused a stir...

Monday, July 22, 2024, 01:41:00 PM

Second Bitcoin ETF To Hit Market This Morning Via Evolve ETFs

A day after the launch of the first bitcoin ETF, the Purpose Bitcoin ETF (TSX:...

Friday, February 19, 2021, 08:22:35 AM

India Mulling Total Cryptocurrency Ban

As Bitcoin soared to a new high of US$60,000 over the weekend before slumping to...

Tuesday, March 16, 2021, 10:26:00 AM

Is It Delulu To Wait On Spot Bitcoin ETF? Approval Anticipated On Friday

Eric Balchunas, a senior ETF analyst at Bloomberg, has signaled that the US Securities and...

Friday, January 5, 2024, 10:17:00 AM

CSE Issue HODL Sells Out Of Bitcoin, Ethereum Holdings

In terms of the crypto market, there are signs that we may have nearly hit...

Wednesday, June 29, 2022, 08:10:39 AM