Bitcoin-friendly Javier Milei triumphs in the Argentine presidential race

By: Henry Felix

Bitcoin-friendly Javier Milei triumphs in the Argentine presidential race

November 20, 2023 6:31 AM

Milei received almost 55% of the vote in the run-off presidential election, with 99% of the votes counted.


On November 19, Argentina's Bitcoin (BTC)-friendly Javier Milei defeated his opponent Sergio Massa in the country's presidential run-off election.


According to Bloomberg data, Milei won over 55% of the votes with an over 3 million vote lead, with nearly 99% of the votes counted.


Massa, the country's economy minister, called Milei to congratulate him on his victory after more than 90% of the ballots were counted—before the first official results were announced. Milei will be sworn in on December 10.

 

 

Milei led Massa by over 10%, with practically all votes counted.

Source: Bloomberg


Argentina's long-running inflation crisis has sparked debate in the South American country, with the Argentine peso experiencing a 140% surge in annual inflation over the last year.


Milei has been vociferous in his criticism of the country's central bank, describing it as a "scam" and a "mechanism by which lawmakers deceive the good people through inflationary tax."


He has described Bitcoin as a movement for "the return of money to its original creator, the private sector."


He has not, however, indicated any intention of making Bitcoin an official tender in the country.


Massa's ideas on money, banking, and cryptocurrency appear to be opposed to Milei's.


In October, he promised that if elected, he would introduce a central bank digital currency (CBDC) to "solve" Argentina's long-running inflation crisis.


In October, Massa won the first round of Argentina's presidential election. However, it was insufficient to secure the president outright, necessitating the last run-off vote.


In August, Milei defeated Messi and other contenders in Argentina's primary election.