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Nayib Bukele, the Bitcoin-friendly leader of El Salvador, has won re-election and will lead the country for another five-year term.
Bukele’s popularity and lead in pre-election polls were evident. It was not difficult to predict the results of the vote held on Sunday evening.
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Bukele, who won the presidential election, received more than 85% of the vote. He declared victory by winning at least 58 of the 60 seats in the Legislative Assembly. Also, he fought against gang violence with mass arrests and made large investments in Bitcoin.
In 2021, Nayib Bukele made El Salvador the first country to adopt Bitcoin as legal tender.
In addition to this radical move, Nayib Bukele attracted international attention by developing and introducing the Chivo crypto wallet and embracing Bitcoin as an investment. However, this move has caused criticism and controversy among international organizations, especially the IMF.
El Salvador plans to issue Bitcoin-backed “volcano bonds” which are expected to finance a BTC mining industry supported by renewable energy. Under Bukele’s leadership, El Salvador stands out with its bold steps in the crypto world, and these initiatives could play a significant role in determining the country’s future economic and financial direction.