El Salvador Opposition Unites Against Bukele's Bitcoin Agenda Ahead of 2027 Vote

El Salvador's presidential election in February 2027 is shaping up to be a pivotal moment for the country's Bitcoin experiment. The two main opposition parties, ARENA and FMLN, have formally selected their candidates: Mayte Iraheta and Rafael Aguirre respectively.

Both candidates have publicly criticized President Nayib Bukele's Bitcoin policy as a fiscal failure, signaling that the cryptocurrency will be a central issue in the upcoming campaign. The opposition faces a steep climb, however, with Bukele maintaining strong public approval and a dominant grip on the legislature.

The next government will inherit a complex fiscal landscape, including an IMF agreement that imposes conditions aimed at stabilizing the economy. One of the key questions is whether the daily Bitcoin purchase program will continue, which has been framed as a long-term strategic reserve by the current government but criticized for exposing public finances to extreme volatility.