His re-election could prove crucial to El Salvador's Bitcoin Law remaining in place — as his successor could end up ditching BTC as legal tender 👀
This is despite the fact that the country's constitution actually prevents presidents from serving consecutive terms.
But given that the court's judges were appointed by politicians from Bukele's ruling party, this declaration drew condemnation from the U.S. and other foreign powers."Developed countries have re-election. And thanks to the new configuration of the democratic institution of our country, now El Salvador will too."Bukele sparked controversy last year by unveiling plans to adopt Bitcoin as legal tender — with El Salvador becoming the first country in the world to do so.
While BTC was trading at $51,000 on El Salvador's "Bitcoin Day" on Sept. 7, 2021, it's now languishing below $20,000. Nonetheless, recent opinion polls have suggested that 85% of the population approve of the 41-year-old's presidency.
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