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El salvador’s historical Bitcoin Adoption Could Skyrocket Bitcoin Price Above $100,000

El Salvador officially started accepting bitcoin as legal tender on sept 7. The government gave citizens $30 worth of bitcoin each and expose the world to further bitcoin adoption.

Global Giants like McDonald’s and Starbucks now accepts bitcoin in the country following el Salvador’s lead.

This is very unlikely as no one imagined these companies to accept bitcoin in near future.

However, Bitcoin did a dramtic decline on the same day El Salvadorans received their bitcoin.

This was thought to be a calculated effort to discourage the country.
Notably, El Salvador’s president announced that the country purchased its first 200 BTC.

Also, the country planned acquiring additional 200 BTC early on Tuesday.
Local and international businesses across El Salvador started accepting bitcoin payments through its Chivo Wallet.

Other Institutions followed El Salvador’s footsteps with further adoptions.

Union Investments, a $500 billion investment firm in Germany has a bitcoin pilot program under way. It’s targeted to bring exposure to bitcoin to its clients.

Afterwards, Blockstream partners with Macquarie Group, a $428 billion investment and leading investor in global renewable energy infrastructure.

This will pilot a bitcoin mining facility and examine alternative carbon-neutral energy sources to power such systems.

Furthermore, Dan Tapiero, CEO of 10T Holdings, said “Bitcoin is going up to $400,000 or $500,000 and potentially more.”

The bitcoin bulls continue to grow by the week.

By Thursday, Ukraine’s parliament passed a law legalizing bitcoin in the country. With a total of 276 lawmakers supporting it, and only six against it. Ukrainians can now trade and own bitcoin.

These adoptions could set Bitcoin on its way to the $100,000 price mark.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.