Nayib Bukele Will Develop the Crypto Market in El Salvador

Recently, Nayib Bukele won the presidential election in El Salvador and was re-elected as the head of state due to the majority support for his social and economic policies among the country’s residents.

His government rejected suggestions from the IMF and World Bank to repeal the Bitcoin law, which was passed in 2021.

Bukele’s successful crackdown on street crime has also earned him popularity among his fellow citizens. He recently tweeted that he is currently leading the race with 85% of the votes counted, and is poised to assume the highest office in the country for a second term.

Furthermore, Bukele announced the issuance of $1 billion in Bitcoin bonds, which will take place before the end of the first quarter of 2024.

The funds raised will be used for financing mining projects, with a planned data center for BTC mining to be powered by geothermal energy.