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The new term of El Salvador’s pro-Bitcoin President, Nayib Bukele, begins.

The President of El Salvador, Nayib Bukele, known to be pro-Bitcoin, has begun a fresh five-year mandate, receiving acclaim from the cryptocurrency sector for his leadership and efforts in establishing the country as a top player globally.

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Nayib Bukele, the president of El Salvador who is a strong supporter of Bitcoin, has taken the oath for another five-year term after winning by a large margin in February. This has caused great enthusiasm in the crypto community because of his favorable views on Bitcoin.

On June 1, crypto expert Cory Bates stated in an X post, “Bukele is an example of hard work- here’s to 5 more years! Blessings to El Salvador.”

“Today marks the 5-year anniversary since Nayib Bukele was inaugurated as President of El Salvador. Since then, the country has stood as a global leader, promoting ideals of liberty, security, and progress. According to cryptocurrency expert Pete Rizzo, Bukele is also recognized as the ‘1st Bitcoin President’.”

On the first of June, the official ceremony was held at the National Palace in San Salvador. Bukele emphasized the decrease in crime seen during his presidency, which he attributes to an intense focus on eliminating gang activity.

Although he gained the support of the public for his actions against crime, he also received backing from the international cryptocurrency community for his choice to make Bitcoin a valid form of currency.

Bukele achieved a vast win in the recent election.

According to Cointelegraph’s report on February 20, the New Ideas party has won 54 out of the 60 available seats in the legislature, allowing Bukele to maintain his role as the country’s leader.

On February 4, the country’s electoral results were revealed. However, on February 5, Bukele announced his victory before the official announcement, stating that the New Ideas party had obtained 58 seats instead of the initial 54.

Recently, there have been reports suggesting that Argentina is considering following in the footsteps of El Salvador by implementing plans to adopt Bitcoin and other forms of cryptocurrency.

According to an article from Cointelegraph on May 27, the National Securities Commission (CNV) of Argentina and the National Commission of Digital Assets (CNAD) of El Salvador had a discussion about the adoption and regulation of cryptocurrency in both countries.