This Sunday, the votes in El Salvador allowed Nayib Bukele to consolidate power and guarantee the continuity of the Bitcoin project. Despite criticism, Bukele has won the sympathy of millions of Salvadorans and foreigners alike. In the midst of the bull market, BTC has not yet shown any further reaction to the news.
Nayib Bukele won the presidential elections in El Salvador. As many expected, Bukele has been re-elected without major problems, becoming president of the Republic for the second consecutive time.
Despite criticism, Bukele has won the sympathy of millions of Salvadorans and foreigners alike. Known in the financial and technological world for his peculiar and transcendental commitment to Bitcoin in 2021. The Salvadoran president will have five more years to advance the adoption of this cryptocurrency in the country. The 42-year-old candidate of the Nuevas Ideas party is entrenched in power despite the fact that the national constitution places limitations on re-election.
Nayib Bukele Sweeps the Presidential Elections in El Salvador
During election day, Nayib Bukele’s popularity was evident, eclipsing his opponents with a considerable margin of victory. According to the first data, the Bitcoin maximalist would have surpassed the other opposition parties by a more than overwhelming difference, with a percentage of votes ranging between 85% and 87%. This margin is large enough to avoid a second round. In the Central American country, the runoff takes place if none of the candidates exceeds 50%.
Through his social network X (formerly Twitter), Nayib Bukele announced his victory as follows:
“According to our numbers, we have won the presidential election with more than 85% of the votes and a minimum of 58 of 60 deputies in the Assembly. The record in the entire democratic history of the world. See you at 9pm in front of the National Palace. God bless El Salvador.”
Nayib Bukele’s Triumph Brings 5 More Years of Hope for Bitcoiners in El Salvador
Since announcing the historic decision to adopt Bitcoin as legal tender in September 2021, El Salvador has become a focal point for the global crypto community. Bukele has maintained a firm commitment to this vision, defending the integration of Bitcoin into the economy and daily lives of Salvadorans.
Despite criticism and challenges, such as market volatility and resistance from certain sectors, Bukele has persisted in his conviction that Bitcoin can provide economic and financial opportunities to Salvadoran citizens, especially those who lack access to traditional banking services.
The Two Faces of El Salvador’s Nuevas Ideas
Although the support of the crypto community for the Salvadoran president is as strong as the support of the population, not everything is rosy. The country under the rule of Nuevas Ideas presents two faces to the world. The first is that of an advanced administration widely committed to new technologies and ambitious futuristic projects with a vision of youth. Meanwhile, the other side is that of a totalitarian regime that is quickly projecting itself as a one-party system.
According to human rights agencies, thousands of people were arbitrarily imprisoned and the number of deaths due to torture is increasing alarmingly. Although the war against gangs totally improved internal security, the imprisonment of innocents could be dramatic.
The political environment internally is much more precarious, with a notable increase in retaliation against detractors. Such negative aspects of the Bukele government could have little beneficial weight for Bitcoin. The impartial nature of cryptocurrency could be tainted by being a embellisher for an alleged authoritarian state.
By Leonardo Perez
