On Sunday, Salvadoran President Nayib Bukele shared v bullish predictions on Bitcoin'south (BTC) performance for the year 2022.

Concluding yr, Republic of el salvador became the beginning land to prefer Bitcoin as legal tender under Bukele's presidency as a countermeasure to the growing inflation in the country. Since legalization, the authorities has acquired 1,370 BTC for the land'south reserve and has reinvested its unrealized gains into new infrastructure projects, including a hospital and a school.

President Bukele predicted that ii more countries will join El Salvador in adopting Bitcoin as a legal tender in 2022. In the same year, he expects a bull run that will take BTC's price to a new all-time high of $100,000.

Bukele likewise envisions oncoming explosive growth for El salvador'southward two in-house BTC-based initiatives — Bitcoin Urban center and volcano bonds. Every bit Cointelegraph previously reported, the president foresees Bitcoin Urban center to become a fully functional city with residential areas, shopping centers, restaurants, a port — "everything around Bitcoin."

According to Bukele, "Bitcoin Metropolis volition commence construction" this year, implying the development of the $1-billion BTC-bonds-backed virtual city. Along with this development, he predicts an oversubscription of the volcano bonds.

Bukele besides predicts that Bitcoin will go a major balloter result in the United states elections this twelvemonth and told his Twitter followers to be on the lookout for "a huge surprise" at the Bitcoin 2022 conference.

Related: Some Salvadorans claim funds are missing from their Chivo wallets

El Salvador's mainstream Bitcoin adoption met a series of technical hurdles, the latest being reports of missing funds from the country'south in-house Bitcoin wallet, Chivo.

Every bit Cointelegraph reported, at least 50 Salvadorans reported losses totaling more than $96,000 in December due to an alleged unknown glitch in the Chivo wallet.