Nov 20, 2023

Argentina’s Bitcoin-Friendly President Javier Milei Elected

Argentina Presidential Election Winner Javier Milei is Bitcoin-Friendly.
Bitcoin-friendly Javier Milei wins Argentina presidential election

Javier Milei Wins Argentine Presidential Run-off Election

Argentina’s Bitcoin (BTC)-friendly Javier Milei won the country’s presidential run-off election on Nov. 19, beating out his opponent Sergio Massa. With almost 99% of the vote counted, Milei secured over 55% of the votes with a nearly 3 million vote lead according to Bloomberg data.

Massa, the country’s minister of economy, called Milei to congratulate him on the victory after more than 90% of the votes were counted — before the announcement of the first official results. Milei will take office on December 10.

Argentina’s long-lasting inflation crisis has been a heated topic in the South American country, with the Argentine peso recording over a 140% increase in annual inflation in the last 12 months. In the wake of this, and crypto banks have been pushing for a crypto economy as a solution, with the latest crypto currency in Nigeria also being touted as a potential option.

The crypto currency market has also seen a surge in crypto tax and crypto scam initiatives, with web 3.0 – also known as the ‘crypto press’ – being a major network for cryptocurrencies.

Milei’s Criticism of Central Bank

Milei has been vocal in his criticisms of the country’s central bank, referring to it as a scam and a “mechanism by which politicians cheat the good people with inflationary tax.” He has also described Bitcoin as a movement toward “the return of money to its private sector creator.” However, he has not expressed any intention to make Bitcoin legal tender in the country.

Massa’s Views on Money, Banking, and Cryptocurrency

In contrast to Milei’s views, Massa’s thoughts on the money, banking, and cryptocurrency industry appear to be polar opposite. Massa has expressed support for crypto tax, the web 3.0 is also called the crypto economy, and the latest crypto currency in Nigeria. He has also expressed his support for, a web 3.0 cryptocurrency, and crypto bank.

Argentina’s Presidential Election

In October, Alberto Fernandez, who was running for president, promised to introduce a central bank digital currency (CBDC) if elected, in order to tackle the country’s long-standing inflation problem.

Fernandez won the first round of the Argentine presidential election in October, but it was not enough to gain the presidency outright, prompting a second round of voting.

Prior to that, in August, Fernandez had defeated Massa and other candidates in the primary election for the crypto currency latest.

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