{"id":401642,"date":"2022-01-31T15:16:06","date_gmt":"2022-01-31T12:16:06","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/el-salvador-president-predicts-gigantic-price-increase-for-bitcoin\/"},"modified":"2022-01-31T15:16:06","modified_gmt":"2022-01-31T12:16:06","slug":"el-salvador-president-predicts-gigantic-price-increase-for-bitcoin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/el-salvador-president-predicts-gigantic-price-increase-for-bitcoin\/","title":{"rendered":"# El Salvador president predicts \u2018gigantic price increase\u2019 for Bitcoin"},"content":{"rendered":"<p>&#8220;<strong># El Salvador president predicts \u2018gigantic price increase\u2019 for Bitcoin <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Salvadoran President Nayib Bukele has made yet another bullish Bitcoin\u00a0prediction soon after the International Monetary Fund urged his government to remove Bitcoin\u2019s status as legal tender.<\/p>\n<p>Bukele took to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> on Monday to predict that Bitcoin\u00a0 (BTC) will ultimately see a \u201cgigantic price increase\u201d due to its limited supply of only 21 million digital coins.<\/p>\n<p>The president cited Bitcoin&#8217;s scarcity case, emphasizing there are \u201cmore than 50 million millionaires\u201d in the world, and there is not enough Bitcoin if each one of them wanted to own at least one BTC.<\/p>\n<p>\u201cNo enough for even half of them. A gigantic price increase is just a matter of time,\u201d Bukele wrote.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">There are more than 50 million millionaires in the world.<\/p>\n<p>Imagine when each one of them decides they should own at least ONE <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a><\/p>\n<p>But there will ever be only 21 million <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a><\/p>\n<p>No enough for even half of them.<\/p>\n<p>A gigantic price increase is just a matter of time.<\/p>\n<p>\u2014 Nayib Bukele  (@nayibbukele) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nayibbukele\/status\/1488018025223704583?ref_src=twsrc%5Etfw\">January 31, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nBukele\u2019s comments came shortly after the International Monetary Fund (IMF) urged El Salvador to end its recognition of Bitcoin as legal tender due to risks related to financial stability and consumer protection. The IMF\u2019s report followed a sharp Bitcoin price decline, with BTC <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\">losing<\/a> about $10,000 of its value in a period from Jan. 20 to Jan. 25, according to data from CoinGecko.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/aaeece4a-6a4b-4387-9a72-55586817cf55.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin 30-day price chart. Source: CoinGecko<\/em><\/figcaption><\/figure>\n<p>The latest Bitcoin crash caused major dollar-nominated losses to El Salvador\u2019s Bitcoin reserves. As previously reported by Cointelegraph, the Salvadoran government made its first 200 BTC purchase on Sept. 6, when BTC traded around $52,000. The government then bought 420 BTC on Oct. 27 when Bitcoin\u2019s market price was above $58,000. El Salvador also later bought some Bitcoin at around $54,000 in November and more BTC at $49,000 in mid-December.<\/p>\n<p>At the time of writing, BTC is trading at $37,159, down about 45% from its historical highs of above $68,000 recorded on Nov. 9.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/el-salvador-president-predicts-gigantic-price-increase-for-bitcoin\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# El Salvador president predicts \u2018gigantic price increase\u2019 for Bitcoin &#8221; Salvadoran President Nayib Bukele has made yet another bullish Bitcoin\u00a0prediction soon after the International Monetary Fund urged his government to remove Bitcoin\u2019s status as legal tender. Bukele took to Twitter on Monday to predict that Bitcoin\u00a0 (BTC) will ultimately see a \u201cgigantic price increase\u201d&#8230;<\/p>\n","protected":false},"author":1,"featured_media":401643,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvMDNlMmZmNzctZGEzYy00NzIzLTk4ODUtZjhmYWM3MTcxZDc4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,75606,75864,74355,90059,71511,73711],"class_list":["post-401642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-imf","tag-supply","tag-adoption","tag-el-salvador","tag-government","tag-investments"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/401642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=401642"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/401642\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/401643"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=401642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=401642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=401642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}