I hope you are all well and had an excellent weekend, welcome to CryptoGod-1’s blog on all things crypto. In this post I will be looking at the recent victory for Nayib Bukele in the re-election polls of El Salvador.
El Salvador Election
The incumbent president Nayib Bukele saw his side claim an overwhelming victory in the country’s recent presidential election poll. Annocuning it via Twitter, Bukele stated his party had claimed victory in the preliminary counts with more than 85% of the votes. He also noted that his party, Nuevas Ideas, gained a significant majority in the legislative assembly, with at least 58 of 60 seats go to his side.
His tweet stated:
“According to our numbers, we have won the presidential election with more than 85% of the votes and at least 58 of the 60 deputies of the Assembly, This is a record in the entire democratic history of the world. See you at 9 pm in front of the National Palace.”
The absence of official results from electoral authorities did not deter the president from making the announcement, and his statement aligned with the poll report by the Costa Rican research firm CID Gallup. They noted that Bukele and Nuevas Ideas won the election by 87%.
The re-election took place two months after President Nayib Bukele announced that El Salvador was making money from their Bitcoin Investments. When the price of Bitcoin exceeded the $42,000 mark in December 2023 he noted that the nations investments were in the black. He did this via Twitter, where he exclaimed that Bitcoin's price meant the nation had made a rough profit of $3.62 million. However, they did not sell as the country intends to keep its Bitcoin for the future. El Salvador and Bukele garned worldwide attention in September 2021 as they adopted Bitcoin as their official currency, and since then the country has completed the implementation of supportive digital asset laws in January 2023. In December 2023 they also introduced legislation which allowed foreign nationals to acquire Salvadoran citizenship through Bitcoin investment. The legislation was voted in by the Bukele-led Salvadoran legislature and aimed to stimulate economic growth by simplifying the path for international investors. This removed the standard five-year residency requirement in the country. Bukele may also be the first Salvadoran president in nearly a hundred years to win re-election and should his projections be correct then he could gain unparalleled authority and potentially even be in a position to amend El Salvador’s constitution.
Have a great day.
CryptoGod-1.
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