Bitcoin Pioneer Nayib Bukele Reelected in El Salvador by a Landslide

Bitcoin Advocate Nayib Bukele Gets Reelected With 85% of the Popular Vote

President Nayib Bukele, a pioneer in introducing the law that made bitcoin legal tender in El Salvador, has been reelected as president of the country in the ballot completed on Sunday. The Latam leader, who will reportedly continue implementing bitcoin-related policies, won by a landslide, scoring 85% of the popular vote.

Nayib Bukele, the current president of El Salvador, won the presidential election on Sunday by a landslide, an outcome that was predicted by most local polls and reports. The leader, who has been vocal about his support of Bitcoin and introduced the disputed idea of establishing bitcoin as legal tender in a country for the first time, garnered the support of the majority of the Salvadoran society, scoring at least 85% of the popular vote.

Celebrating his victory, Bukele stated:

"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."

Furthermore, Bukele invited the Salvadoran people to celebrate the victory in the National Palace.

Felix Ulloa, vice-president of El Salvador, had declared that if Bukele won the presidential ballot by a landslide, he would further implement bitcoin policies, such as the program of granting passports to bitcoin entrepreneurs and the issuance of the Volcano bonds, which would provide part of the funding for the construction of Bitcoin City, a planned tax haven for crypto companies.

Even with the popular vote on his side, Bukele's reelection is surrounded by controversy, as he took a leave of absence in 2023 to be able to participate in these elections as a candidate. A Bukele-controlled national tribunal established this as a requirement for reelection back in 2021, a decision that was deemed unconstitutional by his critics.

Nonetheless, Stacy Herbert, director of the National Bitcoin Office (ONBTC) of El Salvador, highlighted the historic victory for global democracy, stating that the previous all-time widest margin for a democratic election was 56.2% in Portugal in 1991.

What are your thoughts on the victory of Bitcoin-friendly President Nayib Bukele in El Salvador? Share your opinions in the comments section below.

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By: Sergio Goschenko
Title: Bitcoin Pioneer Nayib Bukele Reelected in El Salvador by a Landslide
Sourced From:
Published Date: Mon, 05 Feb 2024 03:40:34 +0000

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