El Salvador Opposition Candidates Criticize Bitcoin Strategy Ahead of 2027 Election

ARENA and FMLN nominees oppose Bukele's crypto policy. Bitcoin is no longer legal tender, yet state holdings reach 7,730 BTC amid IMF warnings.

Woofun AI reports that El Salvador’s major opposition parties, ARENA and FMLN, have selected Maytee Iraheta and Rafael Aguirre as presidential candidates for the February 2027 election. Both nominees have publicly rejected current President Nayib Bukele’s Bitcoin strategy, labeling it a financial failure. While Bukele maintains a 94% approval rating driven largely by public safety improvements, polls indicate only 2.2% of citizens view Bitcoin as the country’s biggest mistake.

Following a February 2025 IMF loan agreement, Bitcoin ceased to be mandatory legal tender, with the dollar restored as the sole official currency. Despite this, the El Salvador Bitcoin Office continues acquiring approximately 1 BTC daily, raising total holdings to roughly 7,730 BTC by July 27. The IMF has cautioned that the strategy introduces financial and governance risks without enhancing financial inclusivity, leaving the future of state accumulation dependent on the next administration.