El Salvador’s president, Nayib Bukele, known for his support for Bitcoin, declared victory in the 2024 presidential election on Sunday before the official announcement of results by the electoral body.
President Bukele had won 85% of the votes in the election. He announced victory before the official result was released, claiming he got more than 85% of the votes.
The landslide victory came despite international concerns over El Salvador’s democracy under Bukele. Voters instead focused on Bukele’s policies tackling gang violence and adopting Bitcoin as legal tender.
El Salvador became the first country to accept Bitcoin as legal tender in 2021. Since then, the nation has accumulated over $131 million in bitcoin, turning a $3.6 million profit as of December 2022.
The president’s commitment to promoting Bitcoin is expected to persist during his reelection campaign. His vice president reinforced this stance, affirming the government’s intention to uphold Bitcoin as an official legal tender and signaling the ongoing support for cryptocurrency within the administration.
Bukele’s landslide victory strongly mandates that he proceed with his transformative policies. With gang violence curtailed and the economy boosted by bitcoin adoption, Salvadoran voters firmly supported the president’s agenda.
Also Read: El Salvador Launches Bitcoin Investment Citizenship Program
