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Salvadoran President Nayib Bukele reelected with 87% of the vote, Bitcoin policy to continue for another five years

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Salvadoran President Nayib Bukele reelected with 87% of the vote, Bitcoin policy to continue for another five years

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Support Rate at 87%, Nayib Bukele Re-elected as President of El Salvador for Another Five Years

According to the El Salvadoran media News On Demand, shortly after the voting ended on February 4th, the results showed Nayib Bukele overwhelmingly re-elected as president with 87.7% of the votes, breaking El Salvador's record and becoming the first president to be re-elected in the democratic era of the country.

Previously reported, the El Salvadoran constitution prohibits presidential re-election, but the Constitutional Chamber of the Supreme Court, elected by Bukele allies, ruled in 2021 to allow Bukele to run for re-election and ordered the electoral court to allow his candidacy. The Salvadoran Congress also voted at the end of November last year to allow him to take a six-month leave to run for re-election.

El Salvador's Bitcoin Finally Earned! Nayib Bukele Violates the Constitution to Run for Re-election as President

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 a total of 58 out of 60 parliamentary representatives.

Bitcoin to Serve as Legal Tender for Another Five Years

Despite El Salvador facing negotiations with the International Monetary Fund (IMF) over a $1.3 billion loan, and the IMF issuing a statement on January 25th urging El Salvador to remove Bitcoin's legal tender status to narrow the scope of Bitcoin law.

However, El Salvador's Vice President Felix Ulloa recently told Reuters that during Nayib Bukele's second term, Bitcoin will continue to be the country's legal tender.

Ignoring IMF's Warning, El Salvador's Vice President: Bitcoin to Serve as Legal Tender for at Least Another Five Years