When El Salvador announced the adoption of the flagship digital asset as legal tender within its jurisdiction last year, it sent shockwaves through the crypto community.
Since then, the president of the Central American country has been lauded as a revolutionist by the crypto community for his pro-crypto attitude, which has won him many fans in the industry.
President Bukele predicts a positive Bitcoin market
President Nayib Bukele made several favorable forecasts for Bitcoin on January 2, suggesting that the currency would not only receive increasing adoption from countries around the world, but that its value may reach $100,000 by the end of the year.
Not only that, but Bukele also predicted that the long-awaited creation of the country’s Bitcoin city would start this year, and that the crypto-asset will be a key talking point in the United States elections.
As previously reported, legislators in the US are becoming increasingly interested in how digital assets such as Bitcoin and the crypto industry in general could impact the country’s economy. As a result, they’ve convened a series of hearings to seek the advice of specialists in the field.
Furthermore, Bukele’s Bitcoin price prediction backs up several widely held predictions, with many analysts predicting that the currency will be valued as much as $100,000 by the start of 2022.
El Salvador and Bitcoin
While the asset was unable to break through that level during the previous year, many analysts are now predicting that BTC will eventually hit six digits this year.
As previously stated, El Salvador was the first country in the world to accept Bitcoin as legal currency.
While the crypto community has applauded the decision, top financial institutions such as the International Monetary Fund (IMF) have expressed concern about the impact on the country’s economy.
Image courtesy of Cointelegraph News/YouTube
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