A county that has embraced digital assets like no other, El Salvador is set to grow its Bitcoin commitment with the re-election of President Nayib Bukele. Indeed, the Central American country overwhelmingly opted to keep Bukele in office. Moreover, data from CID Gallup shows that he earned 87% of all casted votes.
Bukele took to X (formerly Twitter) to share the outcome of the election. There he shared his victory while stating that he had “58 of 60 deputies in the Assembly.” Moreover, he added that the mark was “the record in the entire democratic history of the world.”
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El Salvador Continues Bitcoin Commitment Following Key Re-Election
On a global basis, few countries have been as active in the implementation of Bitcoin as El Salvador has been. The nation stood out when it legalized the digital asset as legal tender in 2021. Now, those initiatives are set to continue after a key election took place this weekend.
Indeed, El Salvador is set to grow its Bitcoin commitment after its citizens re-elected President Nayib Bukele. The victory was predicted by many, with Bukele taking more than 85% of all votes cast. Indeed, he surpassed other candidates such as Manuel Flores, Joel Sanches, and Lusi Parada. No other candidate received as much as 10% of the remaining cast votes.
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As previously stated, Bukele first integrated Bitcoin by making legal tender in El Salvador in 2021. However, that is certainly not where the integration ended. Alongside that, Bukele has created a Freedom Visa program that is led by Bitcoin adoption. Specifically, Salvadorian citizenship is granted to foreign investors who invest $1 million in Bitcoin or Tether USDT.
Since then, the government is projected to have raised more than $150 million through the plan. Moreover, they are set to launch the world’s first Bitcoin bond in the first quarter of 2024. Additionally, it is developing its very own Bitcoin city, all of which have been crafted under the Bukele regime, and should only continue.