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<p><span style="font-weight: 400;">Nayib Bukele, El Salvador’s bitcoin-friendly president, is on his way to another five-year term, according to </span><a href="https://twitter.com/OnDemand_News/status/1754302756536402023"><span style="font-weight: 400;">exit polls</span></a><span style="font-weight: 400;"> that show he has an overwhelming lead after voting ended on Sunday.</span></p> 
<p><span style="font-weight: 400;">“According to our numbers, we have won the presidential election with more than 85% of the votes and a minimum of 58 of 60 deputies in the Assembly,” said Bukele in a Feb. 5 X </span><a href="https://twitter.com/nayibbukele/status/1754307883586494722"><span style="font-weight: 400;">post</span></a><span style="font-weight: 400;">.</span></p> 
<p><img decoding="async" src="https://media.cnn.com/api/v1/images/stellar/prod/gettyimages-1793808893.jpg?c=16x9&amp;q=h_833,w_1480,c_fill" alt="In El Salvador, self-styled 'world's coolest dictator' Nayib Bukele heads for re-election amid human rights concerns | CNN"></p> 
<h2 id="span-style-font-weight-400-nayib-bukele-drives-el-salvador-s-bitcoin-adoption-span"><span style="font-weight: 400;">Nayib Bukele Drives El Salvador’s Bitcoin Adoption</span></h2> 
<p><span style="font-weight: 400;">Bukele made an impact during his first term by cracking down on gang violence with mass incarcerations. He has also been a big advocate for Bitcoin (BTC).&nbsp;</span><span style="font-weight: 400;">El Salvador passed a new law on Dec. 21 that provides foreign investors who make a<a href="https://insidebitcoins.com/news/el-salvadors-legislative-move-granting-citizenship-for-bitcoin-contributions"> Bitcoin donation</a> a pathway to rapid citizenship.&nbsp;</span></p> 
<p><span style="font-weight: 400;">The law will effectively allow qualifying individuals to bypass the conventional naturalization requirement of a five-year continuous residency for non-Hispanic country nationals, or a two-year residency for those married to a Salvadoran citizen.</span></p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">🇸🇻 El Salvador Passes Law to Offer Citizenship to Foreign Bitcoin Investors</p> 
 <p>El Salvador‘s Congress has passed a new law enabling foreign citizens to obtain citizenship by investing in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>.<a href="https://twitter.com/hashtag/CryptoNews?src=hash&amp;ref_src=twsrc%5Etfw">#CryptoNews</a><a href="https://t.co/3hCj6BXhK7">https://t.co/3hCj6BXhK7</a></p> 
 <p>— Cryptonews.com (@cryptonews) <a href="https://twitter.com/cryptonews/status/1738130678888194159?ref_src=twsrc%5Etfw">December 22, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p><span style="font-weight: 400;">In 2021, El Salvador also became the first nation to adopt BTC as legal tender. Although this move was applauded by Bitcoin enthusiasts, it also drew criticism from international organizations such as the International Monetary Fund (IMF).</span></p> 
<h2 id="span-style-font-weight-400-el-salvador-s-president-snaps-back-at-critics-span"><span style="font-weight: 400;">El Salvador’s President Snaps Back At Critics</span></h2> 
<p><span style="font-weight: 400;">In a Dec. 4 X post, Bukele </span><a href="https://insidebitcoins.com/news/el-salvador-president-nayib-bukele-lashes-out-at-critics-as-nations-131-million-bitcoin-investment-turns-a-profit"><span style="font-weight: 400;">hit back</span></a><span style="font-weight: 400;"> at critics who had ridiculed the country’s decision to purchase BTC.&nbsp; He revealed that if the country were to sell its BTC back then, it would have made a profit of approximately $3.6 million. </span></p> 
<p><span style="font-weight: 400;">On the day of the post, BTC was able to climb from $41,631 to $41,929. Currently, the crypto is trading at $43,152.83 as of 5:10 am EST, according to CoinMarketCap </span><a href="https://coinmarketcap.com/currencies/bitcoin/"><span style="font-weight: 400;">data</span></a><span style="font-weight: 400;">.</span></p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">El Salvador's <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> investments are in the black!</p> 
 <p>After literally thousands of articles and hit pieces that ridiculed our supposed losses, all of which were calculated based on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>’s market price at the time…</p> 
 <p>With the current <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> market price, if we were to sell… <a href="https://t.co/gvl2GfQMfb">pic.twitter.com/gvl2GfQMfb</a></p> 
 <p>— Nayib Bukele (@nayibbukele) <a href="https://twitter.com/nayibbukele/status/1731653743668572498?ref_src=twsrc%5Etfw">December 4, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p><span style="font-weight: 400;">Despite this, he revealed that El Salvador has no intention of selling its Bitcoin. Bukele added that the country anticipates short-term fluctuations in BTC’s price, but said, “this doesn’t affect our long-term strategy.”</span></p> 
<p><span style="font-weight: 400;">He also urged those who published “hit pieces” criticizing&nbsp; the country’s BTC investments to retract their statements and offer apologies.&nbsp;</span></p> 
<h3 id="span-style-font-weight-400-related-articles-span"><span style="font-weight: 400;">Related Articles:</span></h3> 
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El Salvador’s Bitcoin-Friendly President Nayib Bukele Heads For Re-Election

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Inside Bitcoins

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