El Salvador’s Bitcoin-supporting President Nayib Bukele declared victory in the 2024 presidential election on Sunday before the electoral commission announced the results.
“According to our figures, we won the presidential election with more than 85% of the vote and at least 58 of the 60 members of the House of Representatives,” Bukele said. said X. CID Gallup exit poll data also showed 87% voted for him.
If the official vote confirms Bukele’s victory, he will serve as president until 2029.
Bukele, whose approval ratings have risen after tackling gang crime in the country, is expected to continue his support for Bitcoin. His Vice President Felix Ulloa said Last week, Reuters reported that the government plans to keep Bitcoin as fiat currency if re-elected.
Bukele led El Salvador’s decision to adopt Bitcoin as fiat currency in September 2021. Afterwards, El Salvador also purchased Bitcoin, accumulating a portfolio worth $131 million and profits of $3.6 million as of early December last year. According to Bukele.
El Salvador in December ‘Freedom Visa’ was introduced. By investing $1 million in Bitcoin or USDT, we aim to provide permanent residency or citizenship to up to 1,000 applicants per year.
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About the author
Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.