Tuesday, December 5, 2023

President Bukele anticipates a $100k Bitcoin rise, as well as increased legal use and more.

The President of Central American country El Salvador has predicted a $100K rise in Bitcoin considering the cryptocurrency’s remarkable performance in recent times. Based on official data, El Salvador’s reserve holds 1,370 BTC as of now.

In addition to the Bitcoin prediction, the Salvadoran President anticipates booming legal adoption of crypto in the coming time. BTC is also expected to emerge as a weighty electoral issue in the upcoming elections in the United States of America.

The President is foreseeing the development of a Bitcoin city, which will be financed with a BTC Bond worth 1 million USD. Planned to be situated on the Gulf of Fonseca, the oceanside Bitcoin city will be constructed this year. The best part is that it will have restaurants, residential complexes, etc., entirely based on crypto.

Adoption Of Bitcoin As Official Tender

Having been a staunch proponent of Bitcoin for a long time, President Nayib Bukele regards cryptocurrency as a sure-shot way to achieve financial liberty. As surprising as it may sound, El Salvador was the first country to adopt Bitcoin as an official tender on September 7 2021.

This decision came about under Nayib’s presidency as a measure to counteract the skyrocketing inflation rates in El Salvador.

The adoption of BTC made cryptocurrency a legal means of exchange in the country.

Despite being Central America’s smallest country, El Salvador has set an excellent example for countries around the world by adopting Bitcoin (BTC) as its legal tender. Above all, Nayib Bukele has also envisioned that Bitcoin will be adopted by at least 2 more countries this year.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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