President Bukele of El Salvador, Bitcoin's Biggest Supporter, Begins Second Term
CryptoNewsTerminal Staff01 Jun, 2024
President Bukele of El Salvador, Bitcoin's Biggest Supporter, Begins Second Term
Five years ago today, Nayib Bukele was sworn in as President of El Salvador, and on September 7, 2021, he made Bitcoin legal tender. During his first term, Bukele was a vocal proponent of Bitcoin and other cryptocurrencies, and he has said that he believes that they have the potential to transform the global financial system. Bukele's second term is likely to see him continue to promote the use of Bitcoin in El Salvador but also face challenges. The country's economy is struggling, and Bukele has been accused of authoritarianism. It remains to be seen whether he will be able to overcome these challenges and continue to promote Bitcoin.
