El Salvador’s President Nayib Bukele Announces Re-election Bid for the 2024 Elections
- The Salvadoran people are presented with a candidate who has not shied out of controversy.
- Since Bukele helped El Salvador adopt Bitcoin as legal tender, the country’s economic situation has significantly improved led by the tourism sector.
- El Salvador now has a total of 2,381 BTC after small purchases made in the past year.
Nayib Bukele, the 43 President of El Salvador who has been in office since June 1, 2019, has announced his re-election bid for the 2024 presidential election. Bukele will be having a bucket of achievements including bringing peace and order to a gang-manifested country. Additionally, Bukele will be campaigning with the fact that he introduced Bitcoin as a legal tender alongside the United States dollar.
The 41-year-old El Salvador president announced his re-election bid during a national network on Thursday.
“I’m announcing to the Salvadoran people that I’ve decided to run as a candidate for President of the Republic,” Bukele said.
The Salvadoran people are presented with a candidate who has not shied out of controversy.
Bukele Bolstered by Bitcoin Adoption
Since Bukele helped El Salvador adopt Bitcoin as legal tender, the country’s economic situation has significantly improved led by the tourism sector. According to the country’s ministry of tourism, the sector has grown by over 30 percent since adopting Bitcoin. The country has indicated that people are coming in to experience firsthand how Bitcoin adoption is working out.
Remember, El Salvador now has a total of 2,381 BTC after small purchases made in the past year. Meanwhile, the country has been running some Bitcoin mining sites powered by volcanoes. Additionally, the country is in the process of introducing Btc Bonds offered through Bitcoin city.
However, the country has been battling a major war with several gangs in the streets. Bukele and his administration agreed to push the country towards a curfew in a bid to flush out bad actors.
According to the president, the fear of tourists getting kidnapped by gang members seeking some extortion led to the ruthless operation. Furthermore, deaths in the streets of El Salvador had become more common, thereby affecting the country’s credibility in the global tourism market.
The country’s adoption of Bitcoin has however attracted negative comments from international financial institutions like the IMF. Notably, the IMF told El Salvador earlier this year that its Bitcoin agenda is a threat to the traditional financial market.
Nevertheless, almost 40 central banks later visited El Salvador to study its use of digital assets as legal tender. Among the central banks that visited El Salvador include Egypt, Bangladesh, Nigeria, Sao Tome, Pakistan, Nepal, Kenya, Paraguay, Angola, Ghana, Namibia, Uganda, Guinea, Madagascar, Haiti, Burundi, Eswatini, Jordan, Gambia, Maldives, Rwanda, Costa Rica among others.
Side Notes
Several politicians from around the world have sided with the cryptocurrency industry to gain more attention. However, some including the former president of the United States Donald Trump have been against the adoption of crypto assets.
According to statistics, over 300 million people from around the world have either used or purchased crypto assets. The number is expected to grow exponentially as more regulations enter the cryptocurrency market from around the world.
Rebecca is a Senior Staff Writer at BitcoinWisdom, working hard to bring you the latest breaking news in the cryptocurrency market. In the words of Elon Musk “Buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term.”
