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Nayib Bukele explains why a gigantic increase in the price of bitcoin is only a matter of time

Colombia, Distrito Capital de Bogotá, Bogotá
Published 2 years ago
ID #1264
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Nayib Bukele explains why a gigantic increase in the price of bitcoin is only a matter of time
Colombia, Distrito Capital de Bogotá, Bogotá,
Published 2 years ago

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The Salvadoran president recalls that the total number of units of the cryptocurrency is limited, since "there will always be only 21 million bitcoins."

The president of El Salvador, Nayib Bukele, considers that bitcoin will experience a "giant" increase in its value, and that "it is only a matter of time" for that to happen.

"There are more than 50 million millionaires in the world. Imagine if each of them decides that they must have at least one bitcoin," Bukele wrote on his Twitter account last Sunday. The president recalled that the total number of cryptocurrency units is limited, and that "there will always be only 21 million bitcoins" in the world.

That amount "is not even enough for half" of the 50 million millionaires; "A gigantic price increase is only a matter of time," Bukele predicted.

The amount of bitcoins is limited

The total supply of the popular cryptocurrency is limited and is predefined in the bitcoin protocol at 21 million units, that is, you cannot create more than that. Around 90% of that amount has already been mined, and as of Monday the total number of bitcoins mined and in circulation is 18.94 million units.

The cryptocurrency is in a downtrend, and in the last three months it has lost almost half of its value. On November 10, it established its historical maximum when it exceeded 69,000 dollars per unit, to later suffer a fall and this day it is trading around 37,000 dollars.


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    Colombia, Distrito Capital de Bogotá, Bogotá
    Bogota Cl 34 Megacali