Will Bitcoin become the Legal tender of 2 more nations in 2022?

The president of El Salvador and Bitcoin lover who legalized the cryptocurrency in his country last year, Nayib Bukele, has now offered his six forecasts for Bitcoin’s path as we enter the year 2022. According to Bukele, BTC will not only hit $100,000 per token this year but it will also be approved as legal tender in two more nations.

Bukele is the latest to share his list of predictions for BTC growth in 2022, predicting that the world’s oldest cryptocurrency will become a big electoral issue in the United States this year.

Furthermore, the pro-crypto politician stated that construction on his “Bitcoin City” project would begin this year. Bukele wants to build a Bitcoin-powered city in La Union’s eastern part that will be fueled by a volcano and will not collect any taxes on residents other than VAT.

2022 predictions on #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

— Nayib Bukele (@nayibbukele) January 2, 2022

Brazil and Zimbabwe eye Bitcoin

At this time, no other country has officially stated that it is considering making Bitcoin or other cryptocurrencies legal tender. However, Brazil in October hinted at the possibility of adopting Bitcoin as a legal tender. Shortly after that, the Zimbabwe government also accepted that it was exploring crypto as a legal tender.

Following El Salvador’s approval of BTC as legal tender in September 2021, a number of significant individuals, including Ethereum founder Vitalik Buterin and financial institutions, expressed their displeasure with the move.

The International Monetary Fund (IMF) warned El Salvador to stop using Bitcoin as legal tender because of its significant price volatility and associated dangers to consumer protection and financial integrity.

Andrew Bailey, the Bank of England governor, voiced concern for the residents of El Salvador in December 2021, questioning whether Salvadorans were even aware of the hazards to which their finances had been exposed.

Despite these reservations, Bukele has remained a Bitcoin advocate.

In fact, shortly before the year 2021 ended, Salvadoran President Salvador Allende projected that fiat currencies would be phased out in the near future due to the rising popularity of Bitcoin.