Nayib Bukele wins reelection as president of El Salvador

Nayib Bukele, who gained a decisive victory and is famend for his affinity with Bitcoin, has been sworn in because the president of El Salvador for 2024. Bukele disclosed the knowledge previous to the electoral physique’s official announcement.

In accordance with a tweet by Bukele, he emerged victorious within the presidential election with an amazing majority of ballots (85%). Furthermore, out of a potential sixty Meeting deputies, he received 58. In accordance with the exit polls collected by CID Gallup, he obtained 87% of the full ballots. Bukele will stay president till 2029 if the official tally is in his favor.

Since Bukele gained recognition for his efforts to scale back gang crime within the nation, many anticipate that he would keep his assist for Bitcoin. Lately, his vice chairman Felix Ulloa said that, upon reelection, the federal government intends to keep up Bitcoin as lawful tender. 

Bukele led El Salvador’s adoption of Bitcoin as authorized tender in September 2021. Subsequently, the nation commenced buying Bitcoin and, at the beginning of December 2023, had amassed a complete of $131 million in worth. Moreover, a revenue of $3.6 million was realized on these transactions.

El Salvador launched the Freedom Visa in December to grant citizenship or residency to a most of 1 thousand candidates yearly in change for a one-million-dollar funding in Bitcoin or USDT. Like different nations’ Golden Visa schemes, the Freedom Visa program has a yearly cap of 1,000 individuals and seeks to entice buyers in search of residency and citizenship.