El Salvador’s President Nayib Bukele became maybe the most famous Bitcoiner in 2021 when he announced that his country is adopting Bitcoin as legal tender. It was only a few months later when Bukele made his next move by introducing the world to the idea of “Bitcoin City” and his plans to finance the construction with so-called volcano bonds.
Only two days ago Bukele was again creating a mic-drop-moment on Twitter by making a couple of bold predictions for this year.
Bitcoin will be worth 100.000 US-Dollar
One prediction that is also suiting the bias of many market participants is his price target for Bitcoin. According to Bukele, BTC will reach 100.000 US-Dollar in 2022. While he didn’t provide an analysis of the market the president reassured himself and his audience that his tweet will age well.
One reason that could have led him to this specific target is another prediction that he mentioned in the same tweet. He is expecting two more countries to adopt Bitcoin this year. It remains unknown to the public whether the president of El Salvador was just publicly musing about the future or if he has already reliable information that provides him with insights into the plans of other nations.
Construction will start this year
Another promise was that the construction of the so-called Bitcoin City will start this year. But before that is to happen the volcano bonds have to be a success in order to finance the project. This aspect doesn’t seem to bother the president at all.
His prediction is that all bonds will be sold out in no time and that financing this project won’t be a problem at all. The city will serve as tax heaven and will be powered by the geothermal energy of a nearby volcano. It will also include a complex for mining farms. The goal is to build a city with zero carbon emissions which is indeed an ambitious goal.
It remains to be seen if all the predictions that president Bukele made are going to become reality. He also announced a big surprise for the Bitcoin conference this year in Miami. One thing is for sure, this year is going to be big for Bitcoin enthusiasts. Despite that fact, one is well advised to take any price target with a grain of salt. Many public figures have failed repeatedly to predict prices in the future or have changed their minds over the course of time.