El Salvador’s president says more countries will adopt bitcoin as a legal tender this year.
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President of El Salvador Nayib Bukele tweeted his Bitcoin predictions for 2022. According to him, two more countries will adopt the leading cryptocurrency asset as legal tender this year. After receiving immense support from its citizens, the Central American nation accepted bitcoin as legal tender in the region last year. El Salvador has continued to buy more and more BTC.
“BTC is likely to hit the price level of $100,000 in the coming months.”
In addition to the prediction related to bitcoin’s legal adoption, Bukele also mentioned that Bitcoin is likely to hit the price level of $100,000 in the coming months. “My 2022 predictions on Bitcoin: It will reach $100k, two more countries will adopt it as legal tender, BTC will become a major electoral issue in US elections this year, Bitcoin City will commence construction, and Volcano bonds will be oversubscribed,” he Tweeted. As reported last month, El Salvador expanded its BTC holdings with the addition of 21 Bitcoin.
Bitcoin has started 2022 with stability.
El Salvador is the only country that is officially holding bitcoin. In September 2021, the Central American nation also announced tax exemptions on BTC profits for foreign investors.
After a volatile 2021 full of record price levels and crypto corrections, bitcoin has started the new year with stability. Since January 1st, 2022, the price of Bitcoin has been trading in a range between $46,000 and $47,000. The cryptocurrency’s market cap is also stabilizing near the $900 billion level. “Bitcoin’s Network Realized Profit/Loss is a fantastic way to gauge when traders are in pain, and the network is trading a significant gain or loss. Ever since the December 3rd dump, there have been significant dips in and (just) out of the buy zone,” Santiment highlighted.
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