Bitcoin bull Nayib Bukele declares win for second term as El Salvador president
Quick Take: El Salvador, under Bukele’s leadership, adopted bitcoin as its legal tender in 2021.
El Salvador’s pro-bitcoin president Nayib Bukele declared his win in the 2024 presidential election held on Sunday before the electoral body announced the results.
"According to our numbers, we won the presidential election with more than 85% of the votes and a minimum of 58 out of 60 Assembly deputies," Bukele said on X. CID Gallup’s exit poll data also showed that 87% voted in his favor.
If the official voting results confirm Bukele’s win, he will serve as president until 2029.
Bukele, whose support rose after tackling the country’s gang crime, is expected to continue supporting bitcoin. His vice president Felix Ulloa told Reuters last week that the government plans to maintain bitcoin as its legal tender upon re-election.
Bukele spearheaded El Salvador’s decision to adopt bitcoin as its legal tender in September 2021. Since then, the nation has also been purchasing bitcoin, accumulating a portfolio worth $131 million and a profit of $3.6 million as of early December last year, according to Bukele .
In December, El Salvador introduced “Freedom Visa,” which aims to offer residency or citizenship to up to 1,000 applicants per year for a $1 million investment in bitcoin or USDT.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Is the year-end rebound in U.S. stocks coming? Wall Street trading firms bet on a post-midterm election rally, with position clearing before the election becoming the core bullish argument.
Wall Street trading institutions are betting that the US stock market will rise following the midterm elections.
Arm Q2 fiscal quarter results exceed expectations, but guidance is not impressive; data center royalty income doubles｜Earnings Report Insights
Arm's revenue for the second fiscal quarter rose 27% year-on-year to $1.443 billion, and non-GAAP earnings per share grew 33% to $0.52, both exceeding market expectations. Licensing revenue surged 50%, data center royalties doubled, but overall royalty growth was only 8%, below expectations. The company forecasts median third-quarter revenue of $1.54 billion, slightly above the average analyst estimate of $1.53 billion but lower than some analysts' predictions of $1.7 billion. Arm's share price dropped about 4% in after-hours trading.
Wall Street Warns: In a Divided Government, the 2027 Debt Ceiling Standoff Will Test the "Safe Haven Myth" of US Treasuries
Data shows that since the mid-1990s, following midterm elections under a divided government, the average yield on 10-year US Treasuries has remained at relatively low levels both one month and twelve months after the elections.
Crypto prices
More
