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Salvadoran President Bukele Expects Bitcoin to Reach $100K This Year
El Salvador adopted bitcoin as an official currency last year.
Updated May 11, 2023, 4:38 p.m. Published Jan 3, 2022, 10:11 p.m.
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El Salvador President Nayib Bukele foresees bitcoin reaching the long-elusive six-digit price this year amid increasing adoption as a sovereign currency.
In 2022, bitcoin will reach $100,000 and two more countries will adopt the digital asset as legal tender, Bukele tweeted on Sunday, adding that the cryptocurrency will also become a major issue in the U.S. midterm elections to be held on Nov. 8.
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El Salvador embraced bitcoin as legal tender in September last year, venturing into uncharted waters and drawing the ire of the International Monetary Fund (IMF). Bukele went a step further in November, announcing plans to issue a $1 billion “Bitcoin Bond” with a 10-year maturity on the Liquid Network. Half of the proceeds from the bond issue will fund the construction of a new ”Bitcoin City” along the Gulf of Fonseca near a volcano.
According to Blockstream projections, the annualized yield offered by the bond could reach as high as 146% in the 10th year, subject to bitcoin rallying to $1 million in the next five years – a somewhat farfetched target given that the cryptocurrency is currently trading around $47,000, having peaked near $69,000. El Salvador has been a consistent buyer of the dip, a sign of confidence in the cryptocurrency’s long-term price prospects.
While bitcoin rallied nearly 60% in 2021, outperforming traditional assets by a significant margin, the widely-anticipated price target of $100,000 remained elusive, thanks to the U.S. Federal Reserve’s hawkish shift and broad-based risk aversion in financial markets in November and December.
2022 predictions on #Bitcoin:
— Nayib Bukele (@nayibbukele) January 2, 2022
•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
While Bukele expects bitcoin to regain its mojo this year, some observers foresee the cryptocurrency underperforming coins associated with layer 1 blockchains like Ethereum, Avalanche, Fantom and Solana.
Singapore-based QCP Capital recommended diversification out of bitcoin and into as basket of layer 1 coins as one of the trades for 2022.
According to Jeff Dorman, chief investment officer at Arca Funds, thematic investing is expected to drive most gains in 2022. “From an investment standpoint, Arca remains thematically focused on DeFi, sports and entertainment as it pertains to fan engagement, gaming and NFTs, and Web 3,” Dorman said in a blog post published on Dec. 22.
“As institutional capital enters the market in an exponential fashion, the marginal buyer will far outpace the marginal seller,” Dorman added.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
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- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Bitcoin’s weakness versus gold and equities puts quantum computing fears back in focus
Some investors have revived concerns that quantum computing could threaten bitcoin, but analysts and developers say recent price weakness reflects market structure.
Ano ang dapat malaman:
- Bitcoin’s recent price stagnation has sparked a renewed debate over quantum-computing risks, with investor Nic Carter arguing that quantum fears are already shaping market behavior.
- On-chain analysts and prominent investors counter that the slowdown is better explained by large holders taking profits and increased supply hitting the market around the $100,000 level.
- Most bitcoin developers still view quantum attacks as a distant, manageable threat, noting that proposed upgrades like BIP-360 provide a path to quantum-resistant security and are unlikely to explain short-term price moves.
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