El Salvador’s President Bukele Poised for Re-Election
Preliminary polls suggest that Nayib Bukele, the President of El Salvador who made Bitcoin legal tender in the country, may win his re-election. The Nuevas Ideas party, which Bukele belongs to, is reported to have received 87% of the votes, although official numbers are still pending.
The Preliminary Election Results
Although the results are not yet official, the Supreme Electoral Tribunal (TSE) of El Salvador has released preliminary survey data indicating that Bukele’s Nuevas Ideas party has a significant lead with over 1.1 million votes counted so far.
The other candidates, Manuel Flores of the FMLN party and Joel SΓ‘nchez of the Arena party, trail behind with much fewer votes.
Bukele’s Second Term Victory
If these unofficial numbers hold true, it appears that Nayib Bukele has secured his second term as President. This is significant considering he made Bitcoin a legal currency in El Salvador back in September 2021.
Celebrations Begin for Bukele’s Victory
While the official announcement is still pending, Bukele himself has already announced his victory on social media. He invited his followers to celebrate with him under the National Palace in El Salvador.
Bukele’s announcement on Twitter reads: “According to our numbers, we won the presidential elections with over 85% of the votes and a minimum of 58 out of 60 deputies in the Assembly. A record in the entire democratic history of the world. See you at 9 PM in front of the National Palace. God bless El Salvador.”
The Use of Bitcoin in El Salvador
A recent survey conducted by the JosΓ© SimeΓ³n Canas Central American University in El Salvador revealed interesting insights about the use of Bitcoin in the country in 2023.
12% of Salvadoran citizens reported using BTC for their purchases during the year, but only 6.8% believed that it improved their family economy. Only 2% of users said they used Bitcoin at least 50 times, while 18% mentioned using it just once in 2023.
Interestingly, 77% of respondents stated that having Bitcoin as a legal currency did not impact their family economy. However, only a small percentage (3%) claimed to have never used Bitcoin.
Hot Take: Bukele’s Re-Election and Bitcoin’s Influence
The possible re-election of President Nayib Bukele in El Salvador is significant for the crypto community, given his pro-Bitcoin stance. If he secures another term, it could further solidify the country’s position as a crypto-friendly nation.
Despite mixed opinions on the use of Bitcoin among Salvadorans, Bukele’s victory would demonstrate public support for his policies and initiatives regarding digital currencies. It remains to be seen how his government will continue to leverage the benefits of cryptocurrencies to drive economic growth and financial inclusion in El Salvador.
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