Salvadoran President Championing Bitcoin Declares Candidacy for 2024 Election
El Salvador's President Nayib Bukele Files for Re-election
In a significant development for the country, Nayib Bukele, the current President of El Salvador, has officially filed paperwork to seek re-election in the upcoming presidential election scheduled for February 2024.
Bukele, who became president in 2019, has been a controversial figure, known for his bold decisions and unconventional approach to governance. One of his most notable moves was making Bitcoin a legal tender in September 2021, making El Salvador the world's first country to do so.
The ruling party of El Salvador, Neuva Ideas, officially nominated Bukele to be their presidential candidate on October 26. The public has strongly welcomed this decision, with many citizens expressing their support for Bukele's leadership.
In a speech to thousands of citizens, Bukele addressed the constitutional restrictions on presidential re-election. He stated, "Today is a good day to remember that immediate presidential re-election is prohibited up to 7 times by the Constitution." However, Bukele also expressed his intention to serve for an additional 5 years, stating, "we need five years to continue improving our country."
It is important to note that the constitutional rule in El Salvador, which was changed in 2025 by Parliament (where President Nayib Bukele’s party has an absolute majority), now allows unlimited consecutive re-election of the president, extended the presidential term from five to six years, and reduced the required majority for election to a simple majority.
Bukele has been gradually buying Bitcoin over the past years, and his decision to make Bitcoin a legal tender in El Salvador has been seen as a reflection of his personal investment in the cryptocurrency. An article titled "El Salvador Buys 21 Bitcoin to Mark Bitcoin Day" highlights this commitment.
As his 5 years of term as president nears closing, Bukele's determination to continue serving is clear. In a rally, he declared, "Five more, five more and not one step back." The upcoming presidential election in El Salvador promises to be an exciting event, with Bukele's re-election bid adding an interesting twist to the political landscape.
Neuva Ideas, the most popular political party in El Salvador, will undoubtedly play a crucial role in the election's outcome. As the election draws near, the focus will shift towards the candidates' policies and promises, with Bukele's continued support for Bitcoin likely to be a key talking point.
Stay tuned for updates on the presidential election in El Salvador, as the country continues to make headlines on the global stage.
Read also:
- United States tariffs pose a threat to India, necessitating the recruitment of adept negotiators or strategists, similar to those who had influenced Trump's decisions.
- Weekly happenings in the German Federal Parliament (Bundestag)
- Southwest region's most popular posts, accompanied by an inquiry:
- Discussion between Putin and Trump in Alaska could potentially overshadow Ukraine's concerns
