ChainCatcher news, Time magazine reporter Vera Bergengruen stated that El Salvador President Nayib Bukele's push for Bitcoin to become legal tender is primarily for public relations purposes, rather than substantial economic improvement.Bukele's advisors described the introduction of Bitcoin as "a great rebranding," aimed at changing the external perception of El Salvador. Since the announcement of Bitcoin's legalization in 2021, the policy has caused chaos, forcing Bukele's team to promote the potential benefits of Bitcoin.Bukele had proposed the establishment of a "Bitcoin City" powered by volcanoes, but the project has yet to be completed. He also regularly discusses using state funds to purchase Bitcoin, with approximately $400 million currently in the "public wallet." Bukele will continue to serve as president until 2029.

ChainCatcher news, the inauguration ceremony of President Nayib Bukele was held at Gerardo Barrios Square in El Salvador, marking the beginning of his second term.Five years ago today, Nayib Bukele was sworn in as the President of El Salvador, becoming the first Bitcoin president. On September 7, 2021, Bitcoin officially became legal tender in El Salvador.

ChainCatcher news, El Salvador's Bitcoin-friendly president Nayib Bukele has won a five-year term again with an overwhelming advantage. Bukele wrote on X: "According to our data, we have won the presidential election with over 85% of the votes, securing at least 58 votes among the 60 members of parliament."In 2021, President Nayib Bukele pushed to make Bitcoin legal tender in El Salvador.

ChainCatcher news, according to a poll report by TResearch, about 94% of the people in El Salvador intend to vote in support of the current president Nayib Bukele continuing in office. El Salvador is expected to hold a new presidential election next year, with a term of 5 years. (source link)