Nayib Bukele, the President of El Salvador is topping the headlines for his take on a variety of things.
One thing is for sure that the president loves the social media platform, TikTok. He had uploaded a video of himself on the video-sharing platform that portrayed him gliding in a military vehicle and hundreds of soldiers were seen saluting him.
The video was discussed, but what added to the discussion was the soundtrack of the video.
The song featured was the reggaeton song titled Bichota. Bichota is a slang word for the term big shot. The video went viral immediately and gained over 2.6 million views on the platform alone.
The 39-year-old president of El Salvador was formerly a marketing executive who rose to fame and popularity through the planned and strategic use of the social media platform.
He has influenced people by being a social media influencer and now is doing the same being the president and a global leader.
He took charge as the president and assumed office two years ago. In his presidential pledge he had envisioned that he would fight against gangs, he would demolish corruption meaning to make the entire system an impressively transparent one, and he would break with the existing entrenched political parties of the nation.
His approval ratings were something rare as they appeared to be approximately calculated as 90 percent which is something that is not practically possible in the political scenario.
Eventually, the people had to witness the president leaning more towards autocracy, and he deployed plans and strategies to attack and suppress the press and media.
He also initiated suppressing the civil society and he is a piece of sensational news that took up the Legislative Assembly of the nation of El Salvador.
He occupied the Legislative Assembly with the assistance of the military troops in an aftermath of the refusal of the lawmakers to give sanctions to an anti-crime spending bill.
Although what surprised global politics and international leaders was not any of this. It was even after initiating all these his approval ratings stayed the same, around the previous 90 percent.
In the month of February, his party effortlessly swept the midterm elections with 53 percent of votes. . Followingly in May, the new legislature of the country was sworn in. Bukele does have people who justify his actions and support him,
These supporters uprooted him and performed a self-coup. Self-coup was political action in which they illegally grabbed the political power by which they were able to take away the critics of their idol on the Supreme Court and in the office of the attorney general.
Nayib Bukele was one of the most prominent backers of the digital currency, Bitcoin. Bitcoin is the largest cryptocurrency. Bukele, in the previous year, had made Bitcoin legal in his nation. El Salvador under his presidency became the first ever nation in the world that made a move and did adopt Bitcoin as a legal tender.
These rumors spreading that addressed whether he was doubling down on the digital currency regarding a major fall in it. He had reportedly responded about the crypto slide that included a pledge. In the pledge, he said that the government of his nation El Salvador would purchase one Bitcoin every day going forward.
Bukele’s administration had sent a bill to El Salvador’s national Congress with the content of a move to allow the government to sell 1 billion US Dollars in the so-called “volcano bonds”, government debt. The debt was denominated in U.S. dollars and with a payout of 6.5% interest a year to the holders of the bond.
This was in order to buy additional amounts of cryptocurrency and build a coastal city that was planned to be titled as “Bitcoin City.”This decision was made by the authorities under Bukele on Nov. 22.
In a survey, the results of which came as a contrast to the actions and notions of the president the people of El Salvador did not seem to be interested in BitCoin, or inverting in the digital currency, or mining the digital currency.
The survey was conducted in a one-to-one in-person survey and around 1,269 residents of the nation participated in it. It was published in October, by the José Simeón Cañas Central American University (UCA).
As per the data derived from the survey, it was concluded that about
less than a quarter of respondents who were residents of the nation had used digital currency in the year 2022. The people who thought that the Bitcoin rollout had been a success did only sum up to 17 percent. In opposition to this 66 percent of people in the entire survey views it as a total flop and failure.
On the question of how many of the people would want Bukele, the president to make action to stop using public funds to buy Bitcoin, 77 percent of the people voted yes. It was understood that public opinion was against BUkele when it came to the adoption of Bitcoin.
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Even after the survey was proved to be against Bukele, it was usperosung that even that could not make any impact on his approval ratings. It did not even once fall below eighty-five percent.
These actions presented Bukele with international attention on the world stage. It succeeded in pulling media attention from every part of the world.
Bukele was also widely talked about for his authoritarian moves including mass arrests, and the expelling of supreme court judges who oppose his agenda with the aid of his supporters. He had also launched a bid for reelection in 2024 which has an unconstitutional status.
Bukele strongly believes that the impregnation of nationwide Bitcoin adoption would definitely add to the welfare of his nation. It is yet to see whether it would happen as per his visions. There is no doubt about his efficiency and that the fact he is a person who would never do anything without a proper plan.
But the questions that remain unanswered are many. The main ones are regarded as whether the people of El Salvador especially the youngsters, would come to terms with the digital currency proposed by the president and another one is the autocratic rule that he is implementing, does that really suits the modern era of 2023?!
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