Nayib Bukele could win El Salvador’s presidency again with strong support for his pro-Bitcoin and anti-crime policies.
El Salvador’s presidential election is capturing global attention as Nayib Bukele, the president known for his pro-Bitcoin stance, appears set for a landslide victory based on initial exit polls. Early results suggest a staggering support rate of 87% for Bukele’s party, Nuevas Ideas. Moreover, this overwhelming majority signals a huge endorsement of Bukele’s leadership and policies, including the historic move to adopt Bitcoin as legal tender.
As the vote counting progresses, with 31.5% completed by the early hours of February 5, Bukele’s New Ideas party is already leading by a significant margin. The current tally places them at around 1.3 million votes, far ahead of their closest competitors, the Farabundo Martí National Liberation Front (FMLN) and the Nationalist Republican Alliance (Arena), who have managed to secure just over 110,000 and nearly 97,000 votes, respectively.
The pre-election exit polls conducted by CID Gallup have set the tone for what appears to be a sweeping victory for Bukele. With the New Ideas party capturing the hearts of 87% of voters, the competition seems far behind, with FMLN and Arena trailing at 7% and 4%, respectively. This potential win would mark the beginning of another five-year term for Bukele, extending his presidency until 2029.
Bitcoin and Governance
President Bukele’s administration has been marked by significant initiatives, notably the legalization of Bitcoin in September 2021. This move positioned El Salvador as a pioneer in the global cryptocurrency landscape. Moreover, the Vice President, Félix Ulloa, has recently affirmed the country’s commitment to continuing its Bitcoin strategy, signaling stability and consistency in El Salvador’s financial policies.
However, Bukele’s tenure has not been without controversy. His aggressive approach to combating gang violence has drawn criticism from human rights organizations, pointing to a potential shift from gang-led to state-led violence. Despite these concerns, Bukele’s popularity seems unwavering, underscored by his confident early victory announcement on X, leveraging internal party data.
Lastly, critics, including Salvadoran legal experts, have raised constitutional concerns over Bukele’s re-election bid, citing laws against consecutive presidential terms. Yet, the public’s support suggests a strong backing for Bukele’s vision for El Salvador, often likened to transforming the nation into the “Singapore of the Americas.”