Bukele Claims Landslide Reelection in El Salvador, Bolstering Bitcoin Adoption Path
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Nayib Bukele has claimed victory in El Salvador's presidential election with over 85% of votes based on exit polls. This paves the way for continuing Bitcoin adoption in the country.
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Bukele's Nuevas Ideas party is projected to win at least 58 out of 60 seats in the national assembly, giving him overwhelming power.
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Bukele remains very popular in El Salvador due to his Bitcoin drive and crackdown on gang violence that has reduced crime.
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El Salvador's Bitcoin treasury now stands at 2,825 BTC worth around $120 million. The stash is currently in the black after months under water.
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The crypto community widely celebrated Bukele's reelection victory, hailing him as supporting freedom, security, and prosperity.