El
Salvador’s
bitcoin-friendly
president
Nayib
Bukele
is
on
his
way
to
another
five-year
term,
according
to
exit
polls
which
show
him
with
an
overwhelming
lead
shortly
after
voting
ended
on
Sunday
evening.
The
result
was
widely
expected
as
Bukele,
who
served
since
2019
as
president,
enjoyed
great
popularity
in
the
country
and
led
in
pre-election
polling
by
a
large
margin.
“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,”
tweeted
Bukele.
Bukele
made
a
splash
during
his
first
term
cracking
down
on
gang
violence
with
mass
incarcerations
and
betting
big
on
bitcoin
(BTC).
In
2021,
El
Salvador
became
the
first
nation
to
adopt
the
largest
cryptocurrency
as
legal
tender,
developed
and
introduced
a
crypto
wallet
Chivo
to
enhance
bitcoin
adoption
and
also
started
buying
the
asset
as
an
investment.
The
move,
while
widely
applauded
by
bitcoin
enthusiasts,
drew
criticism
from
international
organizations
such
as
the
International
Monetary
Foundation
(IMF).
Read
more:
2021
–
The
Year
Bitcoin
Became
Salvadoran
The
country
this
year
plans
to
issue
its
long-awaited
bitcoin-backed
“Volcano
bonds”
after
receiving
regulatory
approval
in
December,
which
would
fund
a
BTC
mining
industry
powered
solely
by
renewable
energy.