Key Takeaways
- Nayib Bukele begins a second term as El Salvador's President.
- Bukele has been celebrated for his leadership and pro-Bitcoin stance.
- Argentina is considering following El Salvador's approach to Bitcoin adoption.
Nayib Bukele, El Salvador’s pro-Bitcoin President, has been sworn in for his second five-year term following a landslide victory in February.
His leadership has been celebrated within the Bitcoin community for positioning the country as a world leader in Bitcoin adoption.
Commentator Cory Bates tweeted:
Bukele is Proof of Work— Cheers to 5 more years. G-d bless El Salvador.
Additionally, Pete Rizzo, a prominent media figure, noted:
Exactly 5 years ago today, Nayib Bukele took the Oath of Office, becoming President of El Salvador. Ever since, the country has been a world leader – a beacon of freedom, safety, and innovation. The 1st Bitcoin President.
The inauguration ceremony took place on June 1 at the National Palace in San Salvador.
Bukele highlighted his administration’s success in drastically reducing crime through a major crackdown on gangs.
Bukele said:
In two years we turned around a situation that had been unresolved for more than half a century, with more than 70,000 terrorists controlling the country, and who left more dead than the armed conflict.
Bukele’s decision to adopt Bitcoin as legal tender in September 2021 initially faced skepticism from many Salvadorans, but it has earned him significant support from the global Bitcoin community.
His party, New Ideas, won 54 of the 60 legislative seats in the February 4 elections, solidifying his political influence.
Recently, Argentina has shown interest in following El Salvador’s approach to Bitcoin adoption, with its securities regulator meeting with El Salvador’s National Commission of Digital Assets to discuss crypto regulation.
