Salvadoran President Nayib Bukele successfully reelected with 87% of the votes, Bitcoin policy extended for another five years.
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87% Approval, Nayib Bukele to Serve Another Five Years as President of El Salvador
Bitcoin to Serve as Legal Tender for Another Five Years
87% Approval, Nayib Bukele to Serve Another Five Years as President of El Salvador
According to El Salvadoran media outlet News On Demand, shortly after the voting on February 4th, the results showed that Nayib Bukele was reelected as president with an overwhelming 87.7% of the votes, breaking the record in El Salvadoran history and becoming the first president to be reelected in the democratic era.
Previously, the El Salvadoran constitution prohibited presidential reelection, but the Constitutional Chamber of the Supreme Court, which was elected by Bukele’s allies, ruled in 2021 to allow Bukele to run for reelection and ordered the electoral court to allow his reelection. The Salvadoran Congress also voted at the end of November last year to grant him a six-month leave of absence to focus on the election.
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El Salvador’s Bitcoin Finally Makes a Profit! Nayib Bukele Violates the Constitution to Run for Reelection as President
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Nayib Bukele had high approval ratings in previous polls, and he tweeted that he won the presidential election with over 85% of the vote and the support of 58 out of 60 parliamentary representatives.
Bitcoin to Serve as Legal Tender for Another Five Years
Despite ongoing negotiations with the International Monetary Fund (IMF) for a $1.3 billion loan, and the IMF’s article on January 25th calling for El Salvador to cancel Bitcoin’s legal tender status to limit the scope of the Bitcoin Law, Vice President Felix Ulloa recently affirmed to Reuters that Bitcoin will remain the legal tender of El Salvador during Nayib Bukele’s second term.
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Ignoring IMF’s Warning, El Salvador’s Vice President: Bitcoin to Serve as Legal Tender for at Least Another Five Years
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IMF
Nayib Bukele
Bitcoin
Legal tender
Further Reading
Big Ideas 2023: Bitcoin Best Allocation at 19.4%, Potential Target Price of $2.3 Million
Ignoring IMF’s Warning, El Salvador’s Vice President: Bitcoin to Serve as Legal Tender for at Least Another Five Years
