Bitcoiner Nayib Bukele re-elected as president of El Salvador

Outcomes launched to date present El Salvador’s incumbent president Nayib Bukele successful a landslide victory, indicating he might be re-elected for a second time period.

Bukele’s authorities cracked down on gang violence in El Salvador and made historical past with the adoption of Bitcoin as authorized tender within the nation.

One other 5 years for President Nayib Bukele

In an X-post, Bukele declared himself the winner of the presidential elections, which have been held on February 4, 2024. Based on the publish, Bukele’s political celebration, Nuevas Concepts (New Concepts), received with greater than 85% of the vote. and at the very least 58 of the 60 delegates within the Basic Meeting.”

Based on our figures, we received the presidential election with greater than 85% of the vote and at the very least 58 out of 60 delegates within the Basic Meeting.

The file in all the democratic historical past of the world.

I am going to meet you in entrance of the Nationwide Palace at 9 p.m.

God bless El Salvador.

— Nayib Bukele (@nayibbukele) February 5, 2024

Later stories reaffirmed his announcement, with minor deviations from the odds. Based on The Guardian, Bukele received 83% of the votes.

In the meantime, preliminary outcomes of 31.49% of votes, final up to date by Tribunal Supremo Electoral (TSE), El Salvador’s highest electoral authority, present Nuevas Concepts main with nearly 1.3 million votes. The 2 most important opposition events, Farabundo Martí Nationwide Liberation Entrance (FMLN) and the Nationalist Republican Alliance (ARENA), had 110,244 and 96,700 votes respectively.

Bukele first revealed plans to run for re-election in 2022, at the same time as El Salvador’s structure banned presidents from serving two consecutive five-term phrases. Nonetheless, a 2021 Supreme Court docket ruling allowed the incumbent president to run for a second time period.

Since Bukele grew to become president of El Salvador in 2019, he has obtained excessive rankings from the general public. One in every of his main achievements is the crackdown on gang violence within the nation, with authorities finishing up mass arrests, decreasing crime and violence.

A Bitcoin-loving president

Bukele is also called some of the vocal proponents of Bitcoin (BTC). In 2021, El Salvador grew to become the primary nation on the earth to undertake Bitcoin as authorized tender, a transfer that was criticized by worldwide our bodies such because the Worldwide Financial Fund (IMF).

Since then, the El Salvadoran president has collected BTC on behalf of the nation. Based on a web site known as Nayib Tracker, the nation’s provide of two,825 BTC is at the moment valued at greater than $121 million.

Along with shopping for BTC, Bukele has additionally launched some BTC-friendly initiatives similar to volcano bonds, together with plans to create a Bitcoin Metropolis.

If Bukele is formally confirmed because the winner of the present presidential election, his authorities will transfer ahead with its Bitcoin plans, in accordance with Felix Ulloa, El Salvador’s vice chairman, together with the deliberate launch of Bitcoin-backed bonds within the first quarter of 2024.