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Salvadoran President Nayib Bukele Resigns

Salvadoran President Nayib Bukele Resigns

President of El Salvador, Nayib Bukele, has announced his resignation to focus on his re-election campaign for 2024. Claudia Rodríguez de Guevara, his secretary, will serve as interim president until the next elections. The Salvadoran government has recorded a profit of $3.6 million in its Bitcoin portfolio.

Step Back to Jump Higher

In a surprising move, Salvadoran President Nayib Bukele has chosen to step down from his position on December 1st. Approved by the country’s Legislative Assembly, this decision allows Bukele to fully concentrate on his re-election campaign for 2024. While his term has not yet ended, this political maneuver is aimed at strengthening his chances for a second term.

Claudia Rodríguez de Guevara Replaces Nayib Bukele

Claudia Rodríguez de Guevara, Bukele’s private secretary, has been designated as the interim president, assuming presidential responsibilities until the next elections. Bukele’s resignation, six months before the end of his term, was authorized by the Salvadoran Congress which, in 2021, saw its Supreme Court reinterpret the constitution to allow consecutive presidential re-election (before this law, presidents had to wait 10 years before running for a second time). His bold choices, including the adoption of Bitcoin as legal tender, have left an indelible mark on his presidency.

El Salvador’s Bitcoin Portfolio in the Green

Under President Nayib Bukele’s leadership, El Salvador has achieved notable success with its Bitcoin portfolio. On December 4th, Bukele announced that the country’s cumulative Bitcoin investments reached $131 million, with a net profit of $3.6 million, representing a gain of 2.84%. This positive performance came after a recent surge in Bitcoin, exceeding $41,000.

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