El Salvador opposition picks presidential candidates to challenge Bukele's Bitcoin policy

El Salvador’s two main opposition parties have finalized their candidates for the February 2027 presidential election, setting up a challenge to President Nayib Bukele’s bid for a third term and his Bitcoin strategy, BeInCrypto reported. ARENA picked former lawmaker Mayte Iraheta, while the FMLN selected physician Rafael Aguirre. Both candidates have criticized the Bukele administration’s Bitcoin policy as a fiscal failure. Still, with ARENA holding two seats in the legislature and the FMLN holding none, even a change in government would require a broad political coalition to alter Bitcoin policy. El Salvador scrapped the corporate mandate to accept Bitcoin after reaching a $1.4 billion loan agreement with the IMF in February 2025, but it has continued buying one BTC a day and held about 7,730 BTC as of July 27. The next government will decide whether to maintain or halt that Bitcoin purchase policy.