Nayib Bukele
President of El Salvador; made bitcoin legal tender
- Office
- President of El Salvador since Jun 1, 2019[1]
- Bitcoin move
- Bitcoin Law, legal tender from Sep 7, 2021[3]
- Born
- Jul 24, 1981[1]
- Notable date
- Jun 5, 2021: announces the bill[2]
No openly licensed photo found; stylized monogram shown.
“We are buying one #Bitcoin every day starting tomorrow.”
Bio
Nayib Bukele was mayor of Nuevo Cuscatlán and then of San Salvador before he was elected president, taking office on June 1, 2019.[1]
On June 5, 2021, in a video shown at a bitcoin conference in Miami, he said he would send Congress a bill to make bitcoin legal tender. The Bitcoin Law passed on June 8 and took effect on September 7, 2021, with the government's Chivo wallet. The day before, he said the state held 400 bitcoin.[2][3][4]
In November 2021 he announced a planned Bitcoin City in La Unión, to be funded by a bitcoin-backed bond; the bond was later postponed. In November 2022 he said the government would buy one bitcoin a day.[5][6]
In January 2025 the Bitcoin Law was amended to make private acceptance voluntary, and in February the IMF approved a US$1.4 billion program that limits the state's bitcoin purchases. See our El Salvador page for the full record and current holdings.[11][7]
A 2021 ruling by Supreme Court judges appointed by his party's legislators allowed him to seek a second consecutive term despite a constitutional ban, which critics opposed; he won in a landslide in February 2024 and began his second term on June 1, 2024, amid concerns about democratic backsliding.[8][9][10]
Timeline
Jun 1, 2019
Takes office as president[1]
Jun 5, 2021
Announces the Bitcoin Law bill[2]
Sep 7, 2021
Bitcoin becomes legal tender[3]
Nov 20, 2021
Announces Bitcoin City and a bitcoin bond[5]
Nov 17, 2022
Says the state will buy one bitcoin a day[6]
Jan 29, 2025
Bitcoin Law reform makes acceptance voluntary[11]
Feb 26, 2025
IMF approves US$1.4 billion program[7]
Connections
Was advised on bitcoin by Max Keiser. Source
Elsewhere on CHS
- El Salvador and Bitcoin
- Timeline: El Salvador passes Bitcoin Law
- Timeline: El Salvador Bitcoin Law takes effect
- Timeline: El Salvador reforms Bitcoin Law acceptance rules
- History: Nation-states
Sources
- [1] Wikipedia: Nayib Bukele
- [2] Reuters, “El Salvador's president says will send bill to make bitcoin legal tender” (Jun 5, 2021)
- [3] Bitcoin Law (Decree No. 57), Invest El Salvador translation
- [4] Reuters, “El Salvador holds 400 bitcoin, price jumps” (Sep 6, 2021)
- [5] Reuters, “El Salvador plans first ‘Bitcoin City’, backed by bitcoin bonds” (Nov 22, 2021)
- [6] Nayib Bukele (@nayibbukele) on X, Nov 17, 2022
- [7] IMF Press Release 25/43: US$1.4 billion EFF for El Salvador (Feb 26, 2025)
- [8] Reuters, “El Salvador top court rules presidents can serve two consecutive terms” (Sep 4, 2021)
- [9] Reuters, “Bukele landslide shifts El Salvador to one-party state, amplifies democracy fears” (Feb 5, 2024)
- [10] Reuters, “El Salvador's Bukele starts second term amid economic test” (Jun 1, 2024)
- [11] El Salvador jurisprudence archive: Bitcoin Law reforms (Decree No. 199, Jan 29, 2025)
Checked Oct 17, 2026 · All people