Saturday, May 21, 2022
Home Crypto News Market El Salvador President Nayib Bukele Says All His Bitcoin Predictions Still On...

El Salvador President Nayib Bukele Says All His Bitcoin Predictions Still On Play Except One

- Advertisement -
Follow-Us-On-Google-News

 

Nayib Bukele sticks to His prediction of a 100K BTC price, While Bukele’s second prediction is gradually becoming a reality.



Earlier in the year, El Salvador, president Nayib Bukele, made some predictions about the BTC market space. Some of his predictions were that BTC would reach $100k and two more countries would adopt BTC as a legal tender. Three months later, Bukele referenced his January 2022 predictions, tweeting, “(a couple of months) all predictions still on the play.”

Bukele predicted on Jan 02, 2022, that Bitcoin:

  • “Will reach $100k
  • 2 more countries will adopt it as legal tender
  • Will become a major electoral issue in US elections this year
  • Bitcoin City will commence construction
  • Volcano bonds will be oversubscribed
  • Huge surprise at @TheBitcoinConf”

 

However, many picked on his prediction of BTC price reaching $100k this year and criticized him for making predictions without having proof to back them up. Some opined that El Salvador doesn’t have any capacity to cause any change to BTC price. Thus, his predictions are baseless. In addition, others accused him of having no idea of how BTC price movement works.

It is important to note that while many crypto market experts have predicted that BTC’s price will be bullish this year. Most analysts agree that it might take at least two years before BTC price could trade and settle around the $100K range.

Central African Republic is the second nation to adopt BTC as a legal tender

Speaking of Bukele’s second prediction for BTC this year, one country (the Central African Republic, CAR) has announced adopting BTC as a legal tender. The country’s president (Faustin-Archange Touadera) announced on April 27. With this official confirmation, the CAR becomes the first African nation to adopt BTC as a legal tender and the second nation in any part of the world.

Part of the official statement remarked that the move was to “open up fresh opportunities for central African citizens.” A representative of the bank of Central African States (BEAC) told Reuters that the Central African Republic didn’t notify it before making the BTC adoption move.

However, the representative added that the BEAC would issue an official response soon. The BEAC controls the CFA Franc, a currency used by six African nations, including the Central African Republic.

Nigeria, Tanzania, South Africa, and Ghana are some African nations considering using blockchain technology in various ways. But none of them is yet to discuss the idea of adopting BTC as a legal tender.

Last Prediction postponed

Bukele was supposed to deliver some mega surprise at the Miami Bitcoin conference in 2022 held in April but canceled his visit due to the battle against criminal gangs in El Salvador.

 

- Advertisement -

Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Can Pac-Man Frog (PAC) Outperform ApeCoin (APE) And Theta Network (THETA)?

Cryptocurrencies are all anyone has been able to talk about for the past couple of years. They are an innovative way of thinking about...

Secure DeFi Protocols: Calyx Token (CLX), Chainlink (LINK), and Aave (AAVE)

An ongoing prevalence of hacks, attacks, and exploits within the cryptocurrency space highlights the importance of verifying the security and integrity of a protocol...

Beware of Malicious Proposals, Terra (LUNA) Team Says No Dapps Launched on Terra 2.0 

Terra Team Warns Community to Beware of Malicious Proposals, Says No Decentralized Application Has Launched on Terra 2.0. ...

CZ On Terra (LUNA): “Most Stupid Design Flaw Is Thinking Minting More Of An Asset Will Increase Total Value”

  Binance CEO: Terra Had The Chance To Save Luna And UST When The De-peg Was At 5% But They Failed To Act.

Ethereum Co-Founder Vitalik Buterin Says He Is No Longer A Billionaire

The Ethereum exec was also affected by last week’s cryptocurrency dip that wreaked havoc on investors.  window.coinzilla_display...

Market Pundit: UST And Terra (Luna) Collapse Is NOT An Indication That Crypto Market Is Ending

  Crypto Market Is Not Ending Because Of Terra. window.coinzilla_display = window.coinzilla_display || ; var...

Another Top American Exchange Halting Terra USD (UST) Trading After Coinbase

Gemini follows Coinbase to halt UST trading. window.coinzilla_display = window.coinzilla_display || ; var c_display_preferences...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.