El Salvador opens the door to more Bitcoin as Buquel’s presidency is expanded

El Salvador’s legislative assembly voted to eliminate the president’s term limit, a bold step towards integrating political power.

The impact on crypto is beyond politics as it cites the possibility of accumulating more Bitcoin (BTC).

El Salvador expands the sustainability of Naive Buquel

The constitutional reform on August 1 passed 57-3, allowing President Naive Bukere to seek re-election indefinitely. He also extended the presidential terms from five to six years, postponing the next election in 2027.

Legislative overhauls occur at the moment when Bukere enjoys some of the highest approval ratings in the region.

However, critics, including human rights groups and Western governments, have argued that dismantling democratic checks could have long-term consequences.

Yet, for the global crypto community, its meaning goes beyond politics. The continuation, and perhaps expansion of El Salvador’s Bitcoin-centric economic policy, shows Bucquere’s expansion grip on power.

Since declaring Bitcoin’s fiat currency in 2021, Bukel has positioned the nation as a symbol of financial sovereignty, even in the face of global skepticism.

The IMF pressure is tied to a $1.4 billion credit program. This explicitly asks for further suspension of Bitcoin purchases, so Bukele’s admins continue to be publicly exposed as active Bitcoin accumulator.

In late July, the government announced the acquisition of eight more BTCs, purchased at an average price of $118,500 per coin. This brought the total reported holdings to approximately 6,248 btc, worth more than $740 million.

Data from Arkham Intelligence supports the report, showing that the Salvadoran government holds 6,255 BTC worth $799 million at its current rate.

El Salvador’s Bitcoin Pass boost?

However, recent reports reveal complexity. Recent IMF reports contradicted the claims of new purchases.

The report argued that some of El Salvador’s latest Bitcoin moves were internal wallet transfers, not fresh purchases from the open market.

This sparked new questions about transparency as crypto analysts attempt to harmonize public announcements with on-chain activities.

“It’s misleading to present this as El Salvador stacking if another Bitcoin remains the same on another day from an undisclosed government-controlled wallet,” wrote John Dennehy, founder of the Bitcoin Education Project.

The reform was passed with minimal opposition in the Congress ruled by Bukere’s New Ideas Party. It only strengthens awareness of momentum.

Investors and builders view political continuity as a stabilizing force that could enable long-term blockchain infrastructure development, favorable regulation, and a sustained sovereign Bitcoin strategy in El Salvador.

Recent regional partnerships further highlight the growing influence of El Salvador. The government recently signed a cooperative crypto agreement with Bolivia, following a 630% surge in crypto activity in the country. The move has positioned both countries as leaders in shaping the future of Latin American digital assets.

Ultimately, the question is whether Salvador’s Bitcoin Pass will be driven by a true economic vision or political theatre.

Bukele’s new mission will strengthen its ability to act decisively, but many still confirm that Bitcoin’s symbolism is substantial and that the actions of government chains coincide with the bold narrative.

Post-El Salvador opens the door to more Bitcoin as Buquere’s presidency has been expanded.