Nayib Bukele is set to begin another five-year term as President in El Salvador as he boasts of a massive lead over his opponents, as indicated by exit polls reported by Reuters on Monday, February 2024. Provisional results revealed that Bukele had more than 80% of the votes cast by El Salvadorians, firmly placing him ahead of other contenders.
According to data from News On Demand, Bukele secured 87% of the votes, leaving Manuel Flores with 7.0%, Joel Sanchez with 4.0%, and Luis Parada with 1.6% of the total votes.
#ElSalvador | Resultados preliminares con base en boca de urna, arrojan que tal como se previó en las encuestas, @nayibBukele tendría la ventaja en los comicios presidenciales con un porcentaje superior al 87% de votos a favor. Siendo así, electo para un próximo periodo al mando… pic.twitter.com/fHcBECOXub
— News On Demand (@OnDemand_News) February 5, 2024
President Bukele, however, didn’t wait for the official results. He reportedly took to X to declare himself the election winner, asserting that he gained over 85% of the votes and that his party secured at least 58 out of 60 deputies in the Assembly. Bukele claimed that this achievement marked the highest in global democratic history.
El Salvador made history in 2021 by becoming the first country to adopt Bitcoin as legal tender during President Bukele’s first term in office. The President also vocally encouraged investors to purchase and hold Bitcoin. His administration introduced the Chivo cryptocurrency wallet further to facilitate Bitcoin acceptance in the Central American nation.
Since this historic development, the nation has been actively acquiring Bitcoin. In May 2023, the government purchased 500 BTC, each for $30,744, and an additional 80 tokens at $19,000 two months later.
Last week, Vice President Felix Ulloa declared that El Salvador would retain Bitcoin as legal tender despite the International Monetary Fund’s(IMF) pleas to reconsider if President Bukele wins his reelection bid. Ulloa cited the U.S. SEC’s approval of spot Bitcoin ETFs as confirmation of Bitcoin’s widespread adoption, reaffirming the country’s commitment to the leading cryptocurrency.
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