Nayib Bukele prediction: 2 more countries will adopt Bitcoin as legal tender

[mynonce]

President of El Salvador Nayib Bukele tweeted that 2 more countries will adopt Bitcoin as legal tender:


Twitter account Nayib Bukele @nayibbukele
https://twitter.com/nayibbukele/status/1477464599612076038

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


Huge surprise?

Among other things, the President of El Salvador has promised a “big surprise” at the Bitcoin 2022 conference. The event will take place from April 6-9 in Miami. In addition to Bukele, it will be attended by:

•head of MicroStrategy Michael Saylor;
•a modern representative of the Austrian school of economics Seyfedin Ammus;
•Blockstream CEO Adam Back;
•Lightning Labs founder Elizabeth Stark and other famous representatives of the crypto industry .
source

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[titular]

I think we will see more countries accepting bitcoin as legal tender when we see what the IMF has in store for El Salvador.

El Salvador is still going to be asking the IMF for money here soon, we will see how the IMF cooperates with them given they have been warned multiple times about their new-found use for bitcoin.

If their negotiations go well with the IMF and they are able to secure the funds they are looking for, we may see other countries follow suit with the legal tender laws. If El Salvador ends up getting shafted by the IMF we could see a very different attitude.

[franky1]

part of the tween was about the $100k

just some economic theory to add to this point:
at the moment the most expensive electric price on the planet puts mining costs at $80k a coin.
right now those countries are not mining but happily buying. keeping prices from going down by countering those with coin selling
if the price reached $80k then EVERYONE on the planet can afford to mine. which means then selling at profit. meaning less buy pressure and more sell pressure, so no a sustainable price to reach

to establish a sustainable VALUE (that lasts) at and above $100k the hashrate has to exceed and maintain atleast 230exahash to really make it difficult and costly to mine and make even $100k worthy of some buy pressure.

yes we might see some speculative hype social drama move the price up. but social drama is never a sustainable metric of value. its just a pump and dump temporary price glitch

....
as for two other countries..
well it only took El salvador 7 months from trialling the 'strike' remittance system to then get the country to legally acknowledge bitcon as legal tender. so anything it is possible in the next year that other countries might do too. but expect a few months delay between announcing a countries interest vs actually achieving it.

and as we all know by now, announcements of 'interested in a possible acceptance' is not actual acceptance, and remains gossip until it actually becomes legal

[Fundamentals Of]

The first prediction is what everyone is really most excited about. I am also excited for Bitcoin to finally get that $100,000 prize. I believe it will happen in 2022. With regard to more countries adopting Bitcoin as legal tender. There is also a possibility for it, the two might be coming from Central America or South America. I am looking forward to it as well. But there must be more countries that will accept Bitcoin, although not as a legal tender.

[Vaskiy]

The first prediction is what everyone is really most excited about. I am also excited for Bitcoin to finally get that $100,000 prize. I believe it will happen in 2022. With regard to more countries adopting Bitcoin as legal tender. There is also a possibility for it, the two might be coming from Central America or South America. I am looking forward to it as well. But there must be more countries that will accept Bitcoin, although not as a legal tender.

There is more positive moves happening around the market which could drive the price of bitcoin touch $100k, yet we don't know how and when this gonna take place. Because, in no time the market used to move in opposite directions. When it comes to more two countries adopting bitcoin, there is possible chances. Particularly countries that doesn't have a national currency will go for it. More countries accepting bitcoin apart from adoption as a legal tender will happen for sure, because more countries that are against cryptocurrency is now regulating and developing policies for the same.

[mk4]

•Will reach $100k
That's pretty conservative in my opinion unless we go full bear.

•2 more countries will adopt it as legal tender
Quite realistic as well. We've had a good amount of rumours last year already. But of course, don't expect the bigger and more dominant countries to adopt bitcoin just yet.

•Will become a major electoral issue in US elections this year
Probably, assuming Miami Mayor Francis Suarez actually ends up running.

•Bitcoin City will commence construction / Volcano bonds will be oversubscribed / Huge surprise at @TheBitcoinConf
Ok.

[Obito]

What could be the other countries that are going to adopt bitcoin as legal tender too? Dominican Republic is what I'm guessing for the other one. I'm reading replies to his tweet and it seems that there are still a lot of people worried about what he's doing. Well, he's the president of El Salvador and people are really worried about his venture to bitcoin. I'm waiting for the other countries that would make bitcoin as their legal tender then this will show the doubters a great significance that they shouldn't ignore bitcoin.

There's problems that have arise when bitcoin became a legal tender in El Salvador and their impact to the market don't seem to be that big so it's hard to believe that another country will follow up. Maybe if the market goes for another ATH, it might attract some people of big influences.

[avikz]

Nayib Bukele is undoubtedly one of the most bullish politician in bitcoin history. So it's no surprise, he will speak highly about it! Also I assume, not just two but more countries will adopt bitcoin as a legal tender in coming months. But none of them is likely to wipe out their own currency system in this process just the way El-Salvador did. Bitcoin will be adopted as a parallel currency alongside their own fiats. Also it makes sense for the small countries as it will save them a ton of money from foreign remittances.

But I really doubt about the 100k claim. As Franky rightly pointed out, it is extremely difficult to sustain at 100k level. Some hype of whale movement may push the price beyond 100k but it won't sustain due to the huge sell pressure. So if we don't see a whole new array of investors in the market with a similar or higher buy orders, 100k will not sustain. The market has to eat up the supplies to sustain at that level. Simple economics!   

[sirminesalot]

Nayib Bukele is undoubtedly one of the most bullish politician in bitcoin history. So it's no surprise, he will speak highly about it! Also I assume, not just two but more countries will adopt bitcoin as a legal tender in coming months. But none of them is likely to wipe out their own currency system in this process just the way El-Salvador did. Bitcoin will be adopted as a parallel currency alongside their own fiats. Also it makes sense for the small countries as it will save them a ton of money from foreign remittances.

But I really doubt about the 100k claim. As Franky rightly pointed out, it is extremely difficult to sustain at 100k level. Some hype of whale movement may push the price beyond 100k but it won't sustain due to the huge sell pressure. So if we don't see a whole new array of investors in the market with a similar or higher buy orders, 100k will not sustain. The market has to eat up the supplies to sustain at that level. Simple economics!   

With his breakthrough investing a big amount of BTC for a country, other country leaders could be stimulate to also invest in cryptocurrency because crypto is already recognized by the world and no longer said as a scam thing or something that going to bubble.
The price increase is not the most important thing for bitcoin and the whole crypto markets right now, we need more adoption and more reach to make people invest on it and the price will be followed, sudden price pump is not good for the market we would rather to make it slow but steady increasement

[arwin100]

Nayib Bukele is undoubtedly one of the most bullish politician in bitcoin history. So it's no surprise, he will speak highly about it! Also I assume, not just two but more countries will adopt bitcoin as a legal tender in coming months. But none of them is likely to wipe out their own currency system in this process just the way El-Salvador did. Bitcoin will be adopted as a parallel currency alongside their own fiats. Also it makes sense for the small countries as it will save them a ton of money from foreign remittances.

But I really doubt about the 100k claim. As Franky rightly pointed out, it is extremely difficult to sustain at 100k level. Some hype of whale movement may push the price beyond 100k but it won't sustain due to the huge sell pressure. So if we don't see a whole new array of investors in the market with a similar or higher buy orders, 100k will not sustain. The market has to eat up the supplies to sustain at that level. Simple economics!   

With his breakthrough investing a big amount of BTC for a country, other country leaders could be stimulate to also invest in cryptocurrency because crypto is already recognized by the world and no longer said as a scam thing or something that going to bubble.
The price increase is not the most important thing for bitcoin and the whole crypto markets right now, we need more adoption and more reach to make people invest on it and the price will be followed, sudden price pump is not good for the market we would rather to make it slow but steady increasement

This will be a good boost for bitcoin since this could add up the value of bitcoin and to became more worthy by the help of their adoption but they need also to study if they are really ready for this big move to make since look what happen now a huge price decline happen and if they are new to this for sure they will be endanger so hopefully they have knowledge on this so that they will not get burn on bear market season.

[cabron]

The announcement of these two countries adopting BTC I guess will also be done through that Bitcoin Conference in Miami again. There is just much of a buzz when doing it with Bitcoin loving audience and it's more massive this time because big media might just cover it.

Side projects for Bukele like the Bitcoin city and Volcano bond will make other countries sees the opportunity so if they also have volcanoes or waterfalls to turn into a hydroelectric power station, maybe there will also be Kaieteur Falls bond or something like that.

[NeuroticFish]

President of El Salvador Nayib Bukele tweeted

Very nice of him to tweet about Bitcoin, but we already know that he's bullish on Bitcoin and has his own interest in Bitcoin being successful.
And I clearly don't mind, but:
* I don't think that he's a specialist, by far.
* His tweets should be taken with a grain of salt. Or two. Just because they're greatly biased.

[pooya87]

Depending on what those 2 countries are, it could be a big surprise or a meh moment. For example if another poor country like El Salvador that doesn't even have their own currency adopts bitcoin as legal tender it is not as big deal as El Salvador itself. But if a bigger country with a half decent economy did that, it would be big.

I also the "electoral issue in US" prediction is a big exaggerated. I don't think it would even be an issue.

[btc_angela]

So the President of El Salvador is the next PlanB?  I thought the myth has been busted when we didn't reach $100k in 2021? What if we get full bear market this year as it seems that the signs are already here?

In any case the President is really bullish on BTC and that is a good sign, just like the rest of us here. We are waiting for that 6 digits to happen. But I wouldn't expect too much though, specially on how the price is moving since December.

[bittraffic]

So the President of El Salvador is the next PlanB?   I thought the myth has been busted when we didn't reach $100k in 2021? What if we get full bear market this year as it seems that the signs are already here?

In any case the President is really bullish on BTC and that is a good sign, just like the rest of us here. We are waiting for that 6 digits to happen. But I wouldn't expect too much though, specially on how the price is moving since December.

It's been hanging between bears or bulls thin line but once it crosses the 42K below price, it's obviously going to that bear market which everyone will really panic to sell. I'm not hoping for it to happen because the financial institutions also see BTC as the hedge for the imminent economic collapse or so they've predicted.

I think traders are also holding thier stablecoin this December because they also see that bears might also come. Until there is no obvious trend yet, those traders will also not come to buy. 

Some are just holding positively because of the bullish people like Bukele and Micheal Saylor.

[Pmalek]

But none of them is likely to wipe out their own currency system in this process just the way El-Salvador did. Bitcoin will be adopted as a parallel currency alongside their own fiats.

Just a correction. El Salvador didn't abandon their own currency because they didn't have one in the first place. El Salvador has been using the USD since 2001 according to Wikipedia, and on top of that they added Bitcoin - their second national currency.

Depending on what those 2 countries are, it could be a big surprise or a meh moment. For example if another poor country like El Salvador that doesn't even have their own currency adopts bitcoin as legal tender it is not as big deal as El Salvador itself. But if a bigger country with a half decent economy did that, it would be big.

It's probably going to be at least one South American country (maybe even two) with a ruined economy. It's very doubtful that we will see a western nation do it.

[Lucius]

The key thing starts with the word “predictions” which has a very clear meaning : a statement about what you think will happen in the future.

Of all his predictions, only the conference is somewhat certain (unless canceled due to the pandemic), and everything else is nothing but his personal thinking. If he knows which two countries these are, why not write it publicly so we all know? Whether it is Tonga and Honduras, or Nicaragua and Nauru - apart from the psychological significance that El Salvador is not the only one, nothing significant will change.

As for the big surprise, maybe Michael Saylor will run for mayor of Bitcoin City or maybe for president of the US in the next election

[pawanjain]

It's just his prediction of what might happen in 2022 and it doesn't necessarily mean it will happen for sure.

Will reach $100k

Bitcoin reaching $100k is quite realistic this year since it is already at $47k. If things go well then $100k is quite achievable this year.

2 more countries will adopt it as legal tender

How come he is so sure that 2 more countries will adopt bitcoin as a legal tender. May be he knows something that others don't or may be he is just bluffing.

Will become a major electoral issue in US elections this year

May be the 2 countries are from US which is why it becomes an electoral issue in US elections. Lol 

Bitcoin City will commence construction
Volcano bonds will be oversubscribed
Huge surprise at @TheBitcoinConf

Those would be really nice to see.

[AakZaki]

Several other countries will certainly adopt bitcoin and make bitcoin a legal tender. this is also influenced by El Salvador which first legalized bitcoin. Nayib Bukele's strategy by adopting bitcoin is of course expected to further improve the economy of the country of El Salvador, especially since El Salvador does mining using volcanic mountain energy which of course is energy from nature that will not pollute the environment. The prediction described by the president of El Salvador is certainly still very likely to happen, because I am also sure that Bitcoin ATH will reach $100k or even more. and Bitcoin City which will be built by Nayib Bukele will add to the euphoria of bitcoin.

[fiulpro]

We all know that, at the end of the day countries will follow El Salvador definitely since there is no way that any of them are thinking about loosing a foot here, everyone wants to move forth and stay updated with the technology as well. Therefore it might not just be 2 countries but there would be definitely many in the line. What I do think is, how El Salvador presents itself in front of others is crucial. Being the first country to adopt bitcoins comes with a lot of risks and benefits as well, they would be able to steer through and show the world how well it might work out.
Adoption of Bitcoins is indeed very natural and it's gonna happen for sure, what matters is : How fast?? How long will it take ?? It would be interesting to see other countries approaches towards adopting bitcoins as well.