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El Salvador President Says All His Bitcoin Predictions Still On Play Except One
Nayib Bukele sticks to His prediction of a 100K BTC price, While Bukele’s second prediction is gradually becoming a reality.
Andrew
12:50 28th Apr, 2022
Bitcoin

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

  1. 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.

Source



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