El Salvador 2027 General Election Opposition Candidate Emerges, Bukele's Bitcoin Strategy Faces Political Test

TechFlow reports, July 28, according to BeInCrypto, El Salvador's two major opposition parties have officially nominated candidates for the February 2027 presidential election: the Nationalist Republican Alliance (ARENA) nominated former legislator Maytee Iraheta, while the Farabundo Martí National Liberation Front (FMLN) nominated doctor and union leader Rafael Aguirre. Both candidates clearly oppose Bukele's Bitcoin strategy, characterizing it as a fiscal failure.

However, Bukele's approval rating remains as high as 94%, and his New Ideas party has also completed nominations, with a clear advantage for re-election. Notably, El Salvador revoked Bitcoin's legal tender status in February 2025 after reaching a $1.4 billion loan agreement with the IMF, with the US dollar becoming the sole official currency again, but the government maintains a plan to purchase approximately 1 Bitcoin daily, with holdings reaching about 7,730 BTC as of July 27.