Javier Milei, Argentina’s Bitcoin-Friendly President, wins

It has been verified that Javier Milei, a candidate with an affinity for Bitcoin, emerged victorious in the Argentine presidential elections. A margin of 2,786,457 votes separated him from his closest competitor, Sergio Massa. On December 10, 2023, it is anticipated that he will assume the presidency.

As per the final results pertaining to the second round of the presidential election, Javier Milei of Freedom Advances (LLA) had a count of 13,216,311. In the case of Sergio Massa of the Unity for the Homeland (UP), the count stood at 10,429,854. The blank and invalid vote count was 791,411.

Milei has not officially endorsed the fact of Bitcoin being utilized in the form of legal tender or considering BTC to be a reserve asset. However, it is well known that he has the intention of scrapping the Argentine peso and bringing in its place the American dollar. Recently, the Argentine peso witnessed an inflation increase to the tune of 143% and is rising. This is a situation that calls for immediate alternative solutions.

At the start of 2023, a significant gathering of Argentines united in support of Bitcoin. They formed an assembly resembling a monumental Bitcoin symbol in order to express their solidarity with the effort to curb the escalating inflation that appears to be detrimental to the nation.

Milei has been most outspoken regarding his negative opinion of the central banking system. He continued by stating that the central bank serves as a mechanism for legislators to deceive the public through inflationary taxation and is, in essence, a fraud. In his view, Bitcoin stands for the shifting of money to the real creator, which is the private domain.

He has also previously been on TV, where he was shown thrashing a central bank pinata viciously with a stick.

At the moment, there is uncertainty surrounding Bitcoin’s future in Argentina. However, given the upcoming inauguration of Milei as president, it is speculated that the nation may follow El Salvador’s lead concerning the official recognition of Bitcoin as legal tender and its potential storage as a reserve asset. 

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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