Nayib Bukele has formalized his decision to leave his post as president of El Salvador. In question, the desire of the pro-bitcoin leader to focus on his re-election to this position while general elections must take place in the Latin American country in 2024.
The resignation of Nayib Bukele, a political strategy
In El Salvador, predict Nayib Bukele, the initiator of the reform which led to the recognition of bitcoin as legal currency, has left his presidential functions. The leader announced the news on Friday, December 1.
The leader explained the reasons behind this decision. It is basically a political strategy focused on the next general elections to take place in El Salvador in 2024.
It is in fact a choice to allow the bitcoin supporter to concentrate on his re-election campaign as president of El Salvador. A position for which Claudia Rodríguez de Guevara, little known to the general public until now, filled the interim.
The latter officially entered El Salvador’s political history by becoming the first to lead the country. This, after the country’s National Assembly approved his appointment to this position by 67 votes to 11.
Nayib Bukele, a pro-bitcoin leader with an atypical background?
It is interesting to look back on the political career of Nayib Bukele. It begins in 2019 as the leader gained attention for his initiatives to reduce El Salvador’s homicide rate, one of the highest in the world at the time.
Even though a notable reduction in the homicide rate linked to gang warfare was observed under his mandate, El Salvador came under criticism. The country’s efforts to curb gang activity are criticized for failing to protect human rights.
Despite this, the leader seems to enjoy a certain popularity linked to his pro-crypto stance. A posture that came to light in 2021 when he pleaded for the adoption of bitcoin as legal tender. This, by simultaneously promoting bitcoin mining with initiatives such as Volcano Bonds and the famous Bitcoin City.
It should be noted that, although strategic, the resignation of Nayib Bukele does not seem to be unanimous. At the very least, it sparks discussion. Some expressing concerns about the exercise of presidential responsibilities by someone who has not received a direct mandate from the electorate. Although nothing guarantees Bukele’s return to business. So what would happen to El Salvador’s crypto policy if the latter was not re-elected? The question deserves reflection.
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