based on materials from the portal -
By CoinoMedia
President of El Salvador Nayib Bukele has once again expressed optimism about the future of Bitcoin. In a recent statement, Bukele said that 'the giant increase in the price of Bitcoin is just a matter of time.' His words came against the backdrop of continued growing interest in cryptocurrencies worldwide, despite recent market fluctuations.
Bukele, a staunch supporter of Bitcoin, has made this digital asset a central element of El Salvador's economic strategy. The country adopted Bitcoin as legal tender in 2021, and the government has consistently added to its national BTC reserves.
Bukele's prediction of a sharp increase in the price of Bitcoin is based on the laws of supply and demand. The supply of Bitcoin is capped at 21 million coins, and as institutional adoption grows, the available supply decreases. If demand continues to rise, especially after the upcoming Bitcoin halving, prices could rise significantly.
He also noted that many countries are beginning to consider adopting policies favorable to Bitcoin. This shift could pave the way for broader adoption, further increasing demand.
Despite criticism from some economists, Bukele remains steadfast in his Bitcoin policy. El Salvador is using Bitcoin for government projects, attracting investment, and developing tourism. The country's 'Bitcoin Beach' initiative has already attracted international attention, demonstrating how a community can function based on a Bitcoin-backed economy.
Bukele's confidence and the growing interest in cryptocurrencies worldwide are prompting many to closely watch whether his prediction comes true. Regardless of whether the next surge of activity happens sooner or later, El Salvador's bet on Bitcoin is shaping the global discussions about the future of money.
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