It should be noted that El Salvador has indeed proved to be one of the most popular countries for members of the cryptocurrency community in the past year. The fact is that on September 7, 2021, Bitcoin became the official means of payment in the country, which means that it can be paid for in many popular retail outlets. For example, BTC was definitely accepted at McDonald's and Starbucks.

The principle of interacting with digital assets is quite simple. The cashier indicates the amount to be paid and creates an invoice, which is shown to the customer in the form of a QR code. After scanning it the latter sends the cryptocurrency, and due to the use of Lightning Network such transfers are not only fast, but also cheap.


Despite El Salvador’s huge role in popularizing digital assets, there are still critics. One of those critics was Etherium co-founder Vitalik Buterin. He felt that the imposition of Bitcoin as a means of payment was inconsistent with the ideals of the cryptocurrency world. In addition, residents later complained about the loss of funds from their wallets and that no one was allegedly helping them with the issue.

El Salvador’s President Nayib Bukele

Be that as it may, the country’s president continues to be a popular spokesperson for the blockchain community. That’s why he uses his own Twitter to voice such predictions.

What will happen to Bitcoin in 2022?

So, here are the president’s top predictions from the translation of his tweet, in which the official shared a vision for the near future for the world’s main cryptocurrency. Bukele’s quote was published by Decrypt.

• Bitcoin will reach the $100,000 line;
• Cryptocurrency will become legal tender in two more countries;
• Bitcoin will be a stumbling block in this year’s US House of Representatives elections;
• Construction of Bitcoin City will begin;
• Huge demand for volcano mining bonds;
• Big surprise at Bitcoin Conference 2022.

Note that the bet regarding Bitcoin's growth to $100,000 is not the first time it has been sounded, and even this year. The day before, Nexo platform co-founder Anthony Trenchev shared a similar prediction. He believes that the BTC will be worth a similar value by mid-2022, with the significant growth of the cryptocurrency will be due to the massive money printing around the world and increased inflation. More details about the expert's point of view can be found in a separate article.

Cryptocurrencies on the streets of El Salvador

Overall, Bukele’s prediction already has its first prerequisites – analytics platform CryptoQuant has announced another decline in cryptocurrency exchanges’ balance sheets. As of 4 January 2022, trading venues are holding around 2.308 million BTC. Typically, a drop in this value would indicate a massive withdrawal of coins by investors for long-term storage.

Cryptocurrency exchanges’ reserves against the backdrop of Bitcoin’s price

That is, the less coins on exchanges, the less they want to sell. Such a sign is usually interpreted as a prerequisite for the rise of the major cryptocurrency. As a reminder, just before the New Year, almost 10 thousand BTC were withdrawn from Coinbase, the largest American cryptocurrency exchange, in just one day, which was also noticed by analysts.


We think that Buchele made quite a bold prediction - especially taking into account the mention of two new countries that recognize BTC as legal tender in their territories. However, he may have information not available to others.

That said, it's important to remember that Nayib has invested public money in Bitcoin, among other things. That means it would be strange to expect other predictions from him that would challenge his rightness in supporting BTC. Be that as it may, let's see if the statement is right or wrong in practice.


So when will Bitcoin hit new all-time highs? Stay tuned for more market developments in our Millionaire Crypto Chat. There, we’ll talk about other topics related to the world of decentralisation.