El Salvador's citizens overwhelmingly supported their President in today's vote for a second five-year term. In addition, President Nayib Bukele won an unconfirmed record-breaking margin of victory of 82.98%, according to Stacy Herbert.

President Bukele, first elected in 2019, can feel confident that with the support of most Salvadorans, he can now move ahead with a new five-year term.

Journals around the world, including Al Jazeera and Axios.com, had already predicted resounding victories for Bukele. One director of a New York-based think-tank, Eurasia Group, commented ahead of the vote:

“Bukele continues to enjoy sky-high, really unprecedented approval ratings,” said Risa Grais-Targow, a director at Eurasia Group. “I wouldn’t be surprised if this election effectively turns El Salvador into a single-party state.” 

Bukele made history in September 2021 by becoming the first world leader to make Bitcoin legal tender. Since then, El Salvador's radical experiment with Bitcoin has captivated global attention.

Why is he so loved by the people of El Salvador that they would give him a virtual carte blanche to run the country?

Understanding the importance of public safety for the people of El Salvador, Bukele’s staff posted this notice:

Salvador's prison population has tripled, to 100,000, in less than two years under Nayib Bukele's crackdown on gangs, or 1.6% of its 6.3 million citizens.

Bitcoin Is Here To Stay

Despite this, Félix Ulloa, the second-place finisher, emphasized in an earlier interview that Bukele's re-election would signify "a firm re-commitment to Bitcoin."

Ulloa conveyed to Reuters that the recent expansion of Bitcoin ETFs represents a significant development for El Salvador and could not have arrived at a more opportune moment. He further stated that with the growth of ETFs "Bitcoin enjoys the greatest credibility in the entire world."

Ulloa not only claimed that the existing laws supporting Bitcoin "will be maintained," but he also added that the proposed "Bitcoin City" infrastructure project continues to receive the government's full support.

Despite the critical fight against gang violence, Salvadorans widely recognize and value the importance of progress.

A significant portion of the public's overwhelming support can be attributed to their appreciation for the rapid pace of progress.

According to Landon Manning's experience on the ground:

The country is safer than most large American cities and you can see growth everywhere from roads to housing developments… The progress will inevitably impact some negatively such as land owners adjacent to the highway widening to El Zonte. There is a human cost to economic development but ultimately it will benefit El Salvador and its people.

And even the corporate complainers can’t deny that El Salvador’s economy is firmly in the black:

As of 2024, not only have the government’s investments into bitcoin stockpiles gone firmly into the black, but major financial institutions have also grudgingly accepted the strength of the Salvadoran economy.
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