Bitcoin Advocate Bukele Sweeps El Salvador Election with 85% Popular Vote

Nayib Bukele, the current president of El Salvador, secured a landslide victory in Sunday’s presidential election, earning over 85% of the popular vote, as predicted by local polls.

Bukele, known for his advocacy of Bitcoin and for making it legal tender in El Salvador, garnered broad support across Salvadoran society. He announced his triumph, claiming more than 85% of the votes and at least 58 out of 60 assembly seats, setting a record in democratic history. Inviting Salvadorans to celebrate at the National Palace, Bukele intends to deepen Bitcoin-related policies, including granting passports to Bitcoin entrepreneurs and issuing Volcano bonds to fund the construction of Bitcoin City, a planned tax haven. Despite controversy surrounding his reelection due to a leave of absence granted in 2023, deemed unconstitutional by detractors, Stacy Herbert, director of El Salvador’s National Bitcoin Office (ONBTC), hailed Bukele’s victory as historic, surpassing Portugal’s previous record margin in 1991.

Clever Robot News Desk 6^th February 2024