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Bitcoin advocate Nayib Bukele re-elected president of El Salvador

Market and Events: Bitcoin advocate Nayib Bukele re-elected president of El Salvador

Bitcoin supporter Nayib Bukele has once again won the presidential election in El Salvador. He announced this on his platform X (formerly Twitter).

"According to our data, we have won the presidential election with an overwhelming majority of more than 85% of the [electoral] votes and a minimum of 58 out of 60 assembly votes. This achievement is a record for democratic history around the world. [...]," Bukele stated.

It is worth noting that, according to local media reports, Nayib Bukele received 87 per cent of the electoral votes.

Recall that in early February 2024, Felix Ulloa, Vice President of El Salvador, confirmed that the country does not intend to abandon bitcoin as a legal means of #payment.

According to statistics, in 2023, around 12% of Salvadorans have used #bitcoin at least once for transactions in goods and services.

Moreover, on 9 January 2024, the state received $15.4 million in unrealised profits due to the sharp rise in the value of the cryptocurrency.

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