El Salvador’s Nayib Bukele Set To Be Re-elected For Second Term As President
Bitcoin News Latest News News

El Salvador’s Nayib Bukele Set To Be Re-elected For Second Term As President

Nayib Bukele, the pro-Bitcoin president of El Salvador, is on track to secure a second term in office, according to exit poll data released on February 5.

The data indicates that Bukele’s party, Nueva (New) Ideas, has won a commanding 87% of the votes, while his closest competitors, Manuel Flores and Joel Sanchez, have garnered only 7% and 4% of the votes, respectively.

Bukele himself shared the exit poll results on X, expressing confidence in his party’s victory. He stated that their own data shows him winning the election with over 85% of the votes and securing a minimum of 58 out of 60 deputies in the assembly. 

Bukele has gained international attention for his enthusiastic support of Bitcoin and his efforts to make it legal tender in El Salvador. 

See Also: Bitfinex Launches Securities Platform in El Salvador

He has also spearheaded several Bitcoin-based projects in the country, such as the Volcano Bond and the construction of a tax-free Bitcoin City.

However, Bukele’s bid for a second term has not been without controversy. Critics argue that the country’s constitution prohibits him from seeking immediate re-election. 

Salvadoran lawyer Alfonso Fajardo has pointed out that the constitution prohibits presidential re-election up to seven times.

Despite these challenges, Bukele remains a popular figure in El Salvador, credited with reducing crime and improving the country’s economy. 

Some analysts believe that El Salvador has the potential to become the “Singapore of the Americas,” attracting investment capital and immigration in the coming years.

#Binance #WRITE2EARN

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.