INSUBCONTINENT EXCLUSIVE:
Many experts think Bitcoin may surpass the $100,000 milestone by the first quarterAfter an incredible, although volatile, 2021, all eyes are
now on trying to figure out how Bitcoin will behave this year
During the past two years, Bitcoin has on average performed well, making investors and industry experts hopeful that 2022 would mark another
major milestone in the journey of the world's oldest and largest cryptocurrency by market capitalization
Many appear optimistic that Bitcoin will surpass the long-awaited $100,000 benchmark this year
But extreme volatility is a key factor that most investors would be keeping a close tab on.Among the hopefuls is El Salvador President Nayib
Bukele, who has released on Twitter a set of 5 predictions on Bitcoin's performance this year
His predictions are:– Bitcoin will touch $100,000.– Another two countries will adopt it as legal tender.– Bitcoin will become a major
electoral issue in US elections this year– Bitcoin City will commence construction– Volcano bonds will be oversubscribed
President Bukele's government wants to issue $1 billion worth of a “Bitcoin Bond” with a 10-year maturity
Half of the money raised will be used to purchase Bitcoins, and the rest will be used to fund the construction of the ”Bitcoin City”
along the Gulf of Fonseca near a volcano.– Huge surprise at the Bitcoin Conference, the largest conference focused on Bitcoin slated from
April 6–9 in Miami, Florida.It's not surprising that President Bukele is so bullish on Bitcoin, since El Salvador became the first country
to have adopted Bitcoin as a legal tender besides the US dollar in September last year
Going a step further, Bukele announced the Bitcoin bond in November.Like Bukele, many experts too think Bitcoin may surpass the $100,000
milestone by the first quarter
However, some experts are wary about reposing too much faith in the crypto coin, cautioning that even if it reaches that mark it is likely
For instance, Bitcoin touched an all-time high of $68,789 in November last year, but the value came down to under $46,000 by December 31,
according to CoinMarketCap.
