In El Salvador, a significant milestone was reached on June 1st when President Nayib Bukele, known for his enthusiastic support for Bitcoin, was sworn in for a second presidential term. The inauguration ceremony, which took place at the National Palace of San Salvador, confirmed the continuity of an administration that has been a key figure on the global cryptocurrency scene.

During the ceremony, Bukele recalled the significant advances in terms of public security under his government, highlighting the significant reduction in crime with a striking phrase: “In two years, we reversed a situation that had been unresolved for more than half a century, with more than 70 thousand terrorists controlling the country and who left more dead than the armed conflict”.

This new mandate comes after a landslide victory in the February 20 elections, where Bukele’s party, Novas Ideias, won the majority of seats in the legislature. This victory not only solidifies its domestic support but also strengthens its position as a thought leader in the use of cryptocurrencies.

El Salvador made history in September 2021 by becoming the first country to adopt Bitcoin as legal tender. Despite initial skepticism, with polls indicating disapproval from the majority of Salvadorans, Bukele has continued to promote policies that integrate cryptocurrencies into the national economic system.

Additionally, international support for El Salvador’s pro-Bitcoin approach has been notable. Cory Bates, an influential cryptocurrency commentator, praised Bukele in a post: “Bukele is Proof of Work – Cheers to another 5 years. God bless El Salvador.” Pete Rizzo, a well-known figure in cryptocurrency journalism, also commented on Bukele’s leadership, describing El Salvador as “a beacon of freedom, security and innovation.”

El Salvador’s influence on global cryptocurrency adoption is evident even in regions like Argentina, which has recently sought to learn from Salvadoran policies to explore similar cryptocurrency initiatives.

This new Bukele mandate promises further developments in the field of cryptocurrencies, keeping the country at the forefront of digital financial innovation.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.


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