Nayib Bukele at the announcement of Bitcoin City in 2021 (nobot)Nayib Bukele at the announcement of Bitcoin City in 2021 (nobot)
  • El Salvador’s President Bukele Set for Decisive Election Victory Amid Controversies

(San Salvador, El Salvador) — As the vote counting was still underway Sunday night, incumbent President Nayib Bukele announced his victory in El Salvador’s presidential and parliamentary elections in a tweet. With about a third of the votes counted, Bukele, a conservative leader, secured nearly 83% of the vote share, as reported by the Supreme Electoral Court late Sunday night.

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.
The record in the entire democratic history of the world.
See you at 9pm in front of the National Palace.
God bless El Salvador.

Tweet by Salvadoran President Sunday night, Feb 4, 2024, https://twitter.com/nayibbukele

The 42-year-old’s party, Nuevas Ideas (New Ideas), also appears to have won at least 58 of the 60 seats in Parliament, Bukele indicated. Following the announcement, thousands of exuberant supporters gathered outside the National Palace in the capital city, San Salvador. Approximately 6.2 million citizens were eligible to vote, including 741,000 Salvadorans residing abroad.

Bukele’s administration, marked by a pro-Bitcoin monetary policy as well as a tough stance against organized crime, has sparked significant debate. While his approach garners support for its effectiveness, it also raises concerns about authoritarian tendencies.

This victory, reflecting a strong public endorsement, highlights the complexities of balancing security and democratic principles in El Salvador’s governance.

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Bitcoin City Update

President Bukele’s re-election makes the announced the plan for Bitcoin City in November 2021 more probable. He was envisioning Bitcoin City as a fully functional city with residential and commercial areas, services, entertainment, restaurants, and an airport. Bitcoiners would only have to pay Value Added Tax, Bukele promissed back then.

The city was planned to be powered by geothermal energy from a nearby volcano and was intended to have no income, property, capital gains, or payroll taxes.

By Silvia Orfeo

Silvia Orfeo is a Sr. Politics and Economics Reporter at Nobot.News

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