El Salvador’s Bitcoin chief resigns, but not why you think

Bitcoin-president El Salvador treedt af, maar niet waarom je denkt

The President of El Salvador, or the first president to adopt Bitcoin (BTC) as legal tender, has resigned from office. The Bitcoin supporter made history by embracing Bitcoin with his Central American country in 2021, and is keen to make further moves in groundbreaking politics from next year. That’s why he’s now passing the baton to someone else.

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New election campaign in “Bitcoin Land”

This concerns Nayib Bukele, who is now a well-known name within the Bitcoin community. On December 1, the 46th president of the Central American country resigned after approval by the country’s Legislative Assembly. Bukele was leading El Salvador until June 1, but is now on early leave. He wants to focus fully on his re-election campaign.

Bukele was succeeded by Acting President Claudia Rodriguez de Guevara.

Bukele took office as President of El Salvador on June 1, 2019. He quickly became known for his efforts to reduce El Salvador’s murder rate – one of the highest in the world at the time – and later, of course, for his Bitcoin policy. He called on the Salvadoran government to adopt Bitcoin as legal tender in September 2021 and urged the creation of a volcano-driven “Bitcoin City” in the country.

The term of office of the President of El Salvador is five years. Before September 2021, the country’s constitution required presidents to wait 10 years before running for re-election. However, the country’s Supreme Court then ruled that the president could serve two consecutive terms.

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BTC in favor of the president again?

The next elections are scheduled to be held in February next year. The new president will then take office on June 1.

Bukele enjoys enormous popularity, largely due to a widespread crackdown on violent gangs, which has led to a significant decline in the number of murders. More than 75,000 suspected gang members have been arrested so far. On the other hand, the strategy raised accusations of human rights violations.

From one vote The elections held in August showed that Bukele could easily win the upcoming elections. He received 68.4 percent of the votes.

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