Pro-Bitcoin Salvadoran President Nayib Bukele Announces Re-Election Bid

Bukele says that despite past laws banning the re-election of presidents, El Salvador can follow in the footsteps of developing countries.

In a livestreamed event on September 15 during Independence Day, Salvadoran President Nayib Bukele announced his candidacy for re-election after his current term ends in 2024.

Bukele's announcement comes even as the law barred former Salvadoran presidents from serving consecutive terms. The President pointed out that:

"Developed countries have re-election, and thanks to the new configuration of the democratic institution of our country, so will El Salvador."

Overall, Bukele is showing signs of strong support, as a CID Gallup poll conducted last month found an 85% approval rating for his presidency and 95% approval for his governance of security.

However, in light of the announcement, Salvadorans took to the streets to protest. Thousands of protesters pushed back against Bukele's corruption and Bitcoin integration, among other things deemed distasteful during his presidency.

EL PUEBLO MARCHÓ CONTRA @nayibbukele HOY #El15Marchamos

Miles de personas se hicieron presented a la marche against the corruption of Bukele, por el Bitcoin, por los inocentes presos, por la falta de obras, contra la reelección unconstitucional, por las mentiras y engaños. pic.twitter.com/FVPton9hXn

During his presidency, Bukele introduced Bitcoin as legal tender in the country in September 2021. The introduction of the country's largest cryptocurrency recently celebrated its first anniversary, following a year of steadily declining price.

Despite