El Salvador's main opposition parties pick 2027 presidential nominees critical of Bukele's Bitcoin policy
AI Market Summary
El Salvador's opposition parties have nominated 2027 presidential candidates explicitly critical of Bukele's Bitcoin strategy, reviving political headline risk around the country's BTC posture. While Bitcoin's legal tender status was already revoked in 2025 under an IMF-linked agreement, the government continues daily BTC purchases and holds ~7,730 BTC. Near-term market impact is likely limited, but the news reinforces policy uncertainty as an ongoing narrative.
Impact level
● Low
Affected assets
BTC/USDT-2.85%
AI Insight · BTC/USDTAI Insight
● Neutral
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ME News reported that on July 28 (UTC+8), El Salvador's two largest opposition parties formally named their candidates for the February 2027 presidential election. The Nationalist Republican Alliance (ARENA) selected former lawmaker Maytee Iraheta, while the Farabundo Martí National Liberation Front (FMLN) nominated physician and labor leader Rafael Aguirre.
Both nominees have taken aim at President Nayib Bukele's Bitcoin push, calling it a fiscal failure. Bukele holds a 94% approval rating, and his New Ideas party has already wrapped up its own nomination process.
El Salvador stripped Bitcoin of legal-tender status in February 2025 after signing a $1.4 billion loan agreement with the IMF, restoring the U.S. dollar as the country's only official currency. The government has continued buying roughly one Bitcoin per day and held about 7,730 BTC as of July 27. (Source: ODAILY)
