Bitcoin-friendly Javier Milei wins Argentina presidential 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 won 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.
Milei has been vocal about his criticisms toward 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’s referred to Bitcoin as a movement toward “the return of money to its original creator, the private sector.”
Related: Bitcoin price hits all-time highs across Argentina, Nigeria and Turkey
However, he has not signaled any intention to make Bitcoin legal tender in the country.
VIVA LA LIBERTAD CARAJO pic.twitter.com/WzzzZaTcsz
— Javier Milei (@JMilei) November 19, 2023
Massa’s views on the money, banking and cryptocurrency industry appear to be polar opposite to Milei.
In October, he pledged to launch a central bank digital currency (CBDC) if elected to “solve” Argentina’s long-lasting inflation crisis.
Massa won the first round of Argentina’s presidential election in October. However, it wasn’t enough to win the presidency outright, triggering the final run-off vote.
Prior to that, Milei won Argentina’s primary election against Messi and other candidates in August.
Magazine: Unstablecoins: Depegging, bank runs and other risks loom
