The President of El Salvador, Nayib Bukele, has predicted that the price of the digital currency Bitcoin (BTC) will witness a massive rise in the coming period.
Bukele made another bullish forecast for bitcoin shortly after the International Monetary Fund urged his government to remove bitcoin's legal tender status.
Bitcoin will eventually see a massive price increase, Bukele said in a tweet on Twitter on Monday. Due to the limited supply of 21 million cryptocurrencies only.
The president cited the case of bitcoin scarcity, asserting that there are more than 50 million millionaires in the world, and there isn't enough bitcoin if they each want to own 1 bitcoin online. least.
It's not enough for even half of them, Bukele wrote. So the massive price increase is just a matter of time.
Bukele's comments came shortly after the International Monetary Fund urged El Salvador to end its recognition of bitcoin as a legal tender due to risks related to financial stability and consumer protection.
The International Monetary Fund's report came on the heels of a sharp drop in bitcoin's price, with bitcoin losing about $10,000 of its value from January 20 to January 25, according to data. From Quinn Gekko.
