El Salvador Opposition Names 2027 Candidates to Challenge Bukele's Bitcoin Strategy

On July 27, El Salvador's two main opposition parties named their 2027 presidential election candidates, setting up a political challenge to President Nayib Bukele's bid for a third term and his Bitcoin-focused strategy. The Nationalist Republican Alliance selected former lawmaker Maytee Iraheta, while the Farabundo Marti National Liberation Front tapped physician and union leader Rafael Aguirre. Both candidates have openly criticized Bukele's Bitcoin policy as a fiscal failure.

Meanwhile, El Salvador's National Bitcoin Office continues accumulating holdings, which reached approximately 7,730 BTC as of July 27, according to the government's Bitcoin tracker, maintaining a reported daily purchase pace of one BTC. However, Bitcoin is no longer mandatory legal tender following a 2025 International Monetary Fund loan agreement. With Bitcoin trading near $65,300—down from an October 2025 peak above $126,000—the next administration's Bitcoin strategy will face both political pressure and market risk.