On January 2, El Salvador’s President Naib Buckley shared five forecasts for Bitcoin (BTC) performance for 2022.

Last year, El Salvador became the first country to accept Bitcoin as a legal tender against inflation in the country. Since the enactment, the president has purchased 1,370 BTC from the country’s reserve fund and invested his unrealized proceeds in new infrastructure projects such as hospitals and schools.

President Buckley has predicted that two more countries will join El Salvador in 2022 to accept Bitcoin as a legal tender. A steady trend is expected that year to push BTC prices to a record high of $ 100,000.

Buckley also envisions explosive growth for El Salvador’s two BTC-based domestic initiatives – Bitcoin City and Volcano Bonds. As previously reported, Cointelegraph predicts that the city of Bitcoin will become a full-fledged city with Bitcoin settlements, shopping malls, restaurants and a port.

According to Buckley, “Bitcoin’s construction will begin this year,” and virtual city development means support for $ 1 billion worth of BTC bonds. Along with this development, it is conceptualizing the rewriting of volcanic connections.

Buckley also predicted that Bitcoin would become a major election issue in this year’s US election, urging his Twitter followers to look for “big surprises” at the Bitcoin 2022 conference.

Related: Some Salvadoran residents say they are losing money from Chuu Vault

The main adoption of Bitcoin in El Salvador has faced a number of technical hurdles, according to a recent report by the country’s domestic Bitcoin warehouse, which is not being funded by Chivo.

According to Cointelegraph, at least 50 Salvadoran residents reported more than $ 96,000 in damage to the Chivo mausoleum in December.

Source: CoinTelegraph

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