From Nasdaq Inc.:

El Salvador’s President Nayib Bukele declares victory in the presidential election, despite results not yet confirmed. His second term comes amidst controversy, with critics denouncing his bid for re-election. Bukele, known for a tough stance on gangs, claims to have secured 85% of the vote, transforming El Salvador into one of the safest Latin American countries, marked by a significant crime reduction.

However, Bukele’s anti-crime methods have been met with controversy, accused of arbitrary arrests during the anti-gang campaign. The government detained around 75,000 people. His re-election bid, despite violating the constitution, was approved by the constitutional court, stipulating that he step down before the second term begins. President Bukele faces criticism from human rights groups for his administration’s actions.

Bukele’s leadership in El Salvador has been met with both praise and criticism. His controversial decision to adopt Bitcoin as legal tender in 2021 instigated mixed reactions. Under his leadership, El Salvador’s Bitcoin investment turned a profit, with the country sitting on an unrealized gain of $3.6 million. Despite this, his administration has faced criticism from Democratic lawmakers for “authoritarian” actions, triggering concerns of “democratic backsliding” and human rights violations in El Salvador.



Read more: Bitcoin President Nayib Bukele Declares Victory In El Salvador’s Elections