El Salvador president Nayib Bukele formally filed his candidacy for the 2024 presidential election last Thursday. Bukele is behind the country’s adoption of Bitcoin as legal tender. 

According to [Reuters](https://www.reuters.com/world/americas/salvadoran-leader-makes-re-election-bid-official-2023-10-27/), Bukele’s party, New Ideas, is backed by 70% of the country’s voting population. The closest competitor trails by a wide margin, receiving only 4% of the total votes. 

Bukele encouraged other tech-related legislation to boost his country’s economy. Aside from supporting the use of cryptocurrency, his administration also eliminated all taxes on technological inventions. 

However, Bukele’s candidacy is not without opposition. Despite the Supreme Court’s ruling that presidents can run for consecutive terms, critics have said that El Salvador’s constitution prohibits Bukele from running again. 

<blockquote className="twitter-tweet"><p lang="es" dir="ltr">Hoy es un buen día para recordar que la reelección presidencial inmediata está prohibida hasta 7 veces por la Constitución. Solamente. <a href="https://t.co/Jy2gv5AtGv">pic.twitter.com/Jy2gv5AtGv</a></p>— Alfonso Fajardo (@AlfonsoFajardoC) <a href="https://twitter.com/AlfonsoFajardoC/status/1717620501315527060?ref_src=twsrc%5Etfw">October 26, 2023</a></blockquote> 


Bukele is a known supporter of Bitcoin. 


Mon Oct 30 2023

El Salvador President Nayib Bukele to Run for Re-Election

El Salvador Offers Citizenship in Exchange for Bitcoin

El Salvador Offers Citizenship in Exchange for Bitcoin

Mon Oct 30 2023 El Salvador President Nayib Bukele to Run for Re-Election

El Salvador Offers Citizenship in Exchange for Bitcoin

El Salvador Offers Citizenship in Exchange for Bitcoin

Mon Oct 30 2023

El Salvador President Nayib Bukele to Run for Re-Election