El Salvador’s Bitcoin-Friendly President Nayib Bukele Wins Re-Election.

Vice-President Felix Ulloa indicated that a decisive win for Nayib Bukele would lead to further implementation of Bitcoin-related policies.

El Salvador’s Bitcoin-Friendly President Nayib Bukele Wins Re-Election.

El Salvador’s current president, Nayib Bukele, secured a resounding victory in the recent presidential election with an impressive 85% of the popular vote, as anticipated by local polls. The leader, known for his strong advocacy of Bitcoin, had previously introduced the idea of making the cryptocurrency legal tender in the country.

Celebrating his landslide win, Nayib Bukele announced, “We have won the presidential election with more than 85% of the votes and a minimum of 58 out of 60 deputies in the Assembly. A record in the entire democratic history of the world.” In response to his victory, Nayib Bukele invited the people of El Salvador to join in the celebration at the National Palace.

Vice-President Felix Ulloa indicated that a decisive win for Nayib Bukele would lead to further implementation of Bitcoin-related policies. This includes initiatives such as granting passports to Bitcoin entrepreneurs and issuing Volcano bonds intended to fund the construction of Bitcoin City—a planned tax haven for crypto companies.

However, Bukele’s reelection is not without controversy. In 2023, he took a leave of absence to participate in these elections as a candidate, a move deemed necessary by a national tribunal controlled by Bukele himself. This decision, made in 2021, was contested by critics who argued it was unconstitutional.

Stacy Herbert, the director of El Salvador’s National Bitcoin Office (ONBTC), emphasized the historic nature of Bukele’s victory for global democracy. She noted that the previous record for the widest margin in a democratic election was 56.2%, set in Portugal in 1991.

Despite the controversies surrounding his reelection, Bukele’s overwhelming support reflects a significant mandate from the Salvadoran people. As he gears up for another term, the world watches to see how he will continue to shape the nation’s policies, especially those related to Bitcoin and his proposed innovative initiatives.

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