Bitcoin “will reach $100,000″ in 2022, that’s the tweet Bukele, El Salvador modern centric president posted on Twitter. Back in April 2021 at Miami Bitcoin Conference in , El Salvador announced his country’s plan to adopt bitcoin as one of its official currencies alongside the U.S. dollar was unveiled . Bukele’s bitcoin price prediction pales in comparison to some, however.
The bitcoin price peaked at just over $69,000 per bitcoin in November before dropping back to under $50,000. Over the summer the bitcoin price fell as low as $30,000 following the latest China crypto crackdown and Tesla TSLA billionaire Elon Musk appearing to sour on bitcoin—and adopting the meme-based dogecoin as his pet project.
According to Forbes, Many had predicted the bitcoin price would hit $100,000 before the beginning of 2022 but bitcoin, ethereum, Binance’s BNB, solana, cardano and XRP have all struggled towards the end of the year. The combined bitcoin and crypto market capitalization has lost around $800 billion since November, dropping from a peak of around $3 trillion, as fears swirl over soaring inflation and the Federal Reserve’s 2022 outlook.
After Bukele’s bombshell announcement at the Miami Bitcoin Conference, El Salvador officially made bitcoin a national currency in September and has gradually bought a total of 1,141 bitcoins, according to Reuters calculations—regularly buying more.
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