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Home»ADOPTION NEWS»Bitcoin bull Nayib Bukele declares victory for second term as El Salvador president
ADOPTION NEWS

Bitcoin bull Nayib Bukele declares victory for second term as El Salvador president

By Crypto FlexsFebruary 5, 20242 Mins Read
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Bitcoin bull Nayib Bukele declares victory for second term as El Salvador president
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People • February 4, 2024, 9:11 PM EST

Posted 1 minute ago In ~

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.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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.

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