El Salvador is heading into uncharted political territory after lawmakers approved constitutional changes that could keep President Nayib Bukele in office indefinitely.
The ruling New Ideas party pushed the reforms through with little resistance, granting longer presidential terms and removing limits on reelection.
The decision drew sharp criticism from opposition lawmakers and rights groups, who warned the country was sliding toward authoritarianism. Yet for Bukele’s supporters, the overhaul is about giving citizens uninterrupted leadership at a time when his popularity remains high.
For Bitcoin watchers, the implications are obvious. Bukele has become one of the world’s most outspoken advocates for cryptocurrency, turning El Salvador into the first nation to adopt Bitcoin as legal tender back in 2021.
His government has since continued adding to its holdings—now exceeding 6,200 BTC—through a daily purchase program, even as institutions like the IMF object.
Extending Bukele’s time in power could cement that strategy. More years in office would give him the chance to expand adoption, lure crypto-related investment, and test whether Bitcoin can truly function as a pillar of a national economy. But it also deepens the divide between El Salvador and critics who argue that both the political reforms and the Bitcoin gamble carry serious risks.
In effect, Bukele’s legacy is becoming inseparable from Bitcoin’s fate in El Salvador. A longer presidency may mean stability for his crypto experiment, but at the cost of heightened political controversy abroad.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/constitutional-reform-in-el-salvador-ties-naiyb-bukeles-legacy-to-bitcoin/