His supporters chanted “ five more years “, and he accepted their request to run in El Salvador’s next presidential elections. And yet, his political opponents have never admitted the legalization of bitcoin. And even less this second term at the head of the country. However, Nayib Bukele, accustomed to seeing things in the big picture, persists and signs.
Bukele, on his way to a second term
Elected president of El Salvador since June 2019, Nayib Bukele saw its popularity grow throughout his heroic actions. We are aware that this young 43-year-old president is the first leader in the world to legalize bitcoin. This has earned him an increase in popularity among young people and people with a certain economic status, according to the results of a Prensa Grafica survey.
Add to this picture better management of the pandemic, the construction of road infrastructure, education reform and the crackdown on gangs.
“ RECENT NEWS: Crying ‘five more, five more and not a step back’, Nayib Bukele delivers his speech in front of thousands of Salvadorans after recording his candidacy for presidential re-election. ‘We need five years to continue improving our country.’ »
According to CointelegraphPresident Bitcoin of El Salvador has just submitted a file confirming his candidacy for his own succession for the 2024 elections. Supported by the public and his party Nueva Ideas (New Ideas), Nayib Bukele did not hesitate a single inch .
Which led his opponents to denounce constitutional acts.
Lawyer Alfonso Fajardo argued that granting Bukele a second term is out of the question.
“ Today is a good day to remember immediate presidential re-election is prohibited up to seven times by the Constitution “, he said on October 26.
“ Nayib Bukele is representing himself in El Salvador even though seven articles of the constitution prohibit it. The constitution was written after our peace accords, after our bloody civil war. It’s unconstitutional. »
France24 confirmed, in an article dated September 2021that multiple mandates are not authorized in El Salvador. Except that the Supreme Court under the Bukele era decided to turn a blind eye this time. Nayib Bukele, the bitcoin fan, therefore benefited from an exceptional privilege by being authorized to run for another term.
Bitcoin, legal tender, but unconstitutional in El Salvador?
History is made to remind us that El Salvador was ahead of all countries in the world in adopting bitcoin as legal tender on its territory in 2021. Unfortunately, this did not make only people happy: Washington, the IMF and even Salvadoran politicians.
The Farabundo Marti National Liberation Front (FMNLB), to which Salvadorans would only give 4% of the votes (Source: Reuters), jumped at the opportunity to denounce that BTC would trample the country’s constitution.
What about the impacts of the legalization of the queen of cryptocurrencies in El Salvador? Our colleague looked into the subject recently. In his presentation, he notably highlighted real progress in the tourism, economic, etc. sectors. But the country’s finance has also seen improvements as the price of bitcoin continues to rise, as do El Salvador’s international bond yields.
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