El Salvador's Bitcoin-Friendly President Nayib Bukele Wins Overwhelming Re-Election Victory
Exit polls indicate that El Salvador's president Nayib Bukele is set to win another five-year term, with a significant lead in pre-election polling. Bukele gained popularity during his first term for his tough stance on gang violence and his support for bitcoin, which he made legal tender in the country in 2021. El Salvador also introduced a crypto wallet and began investing in the asset, although the move drew criticism from international organizations such as the IMF. The country plans to issue bitcoin-backed "Volcano bonds" this year to fund a renewable energy-powered BTC mining industry.
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