Connect with us

Hi, what are you looking for?


Bitcoin-Friendly Javier Milei Wins Argentina Presidential Election

Image Source: Facundo Florit @ Shutterstock

Argentina’s Javier Milei, who is supportive of Bitcoin (BTC), has emerged victorious in the country’s presidential run-off election on November 19, defeating his opponent Sergio Massa.

With nearly 99% of the votes counted, Milei secured over 55% of the votes, leading by almost 3 million votes according to data from Bloomberg.

After more than 90% of the votes were counted, Massa, the country’s economy minister, reached out to Milei to congratulate him on the win. Milei is set to assume office on December 10.

With almost 100% of the votes counted, Milei had a lead of over 10 percentage points over Massa. Source: Bloomberg

Argentina has been grappling with a longstanding inflation crisis, with the national currency, the Argentine peso, experiencing an inflation rate of over 140% in the past 12 months.

Milei has been vocal in criticizing the country’s central bank, labeling it as a scam and a “mechanism used by politicians to unfairly burden citizens with inflationary taxes.”

He sees Bitcoin as a movement toward “restoring the control of money to its original creators, the private sector.”

Related: Bitcoin price reaches record highs in Argentina, Nigeria, and Turkey

However, Milei has not indicated any plans to designate Bitcoin as legal tender in the country.

Massa’s stance on money, banking, and the cryptocurrency industry seems to be starkly different from Milei’s.

In October, he pledged to introduce a central bank digital currency (CBDC) if elected in order to “address” Argentina’s persistent inflation crisis.

Massa emerged as the winner in the initial round of Argentina’s presidential election in October. However, his victory was not sufficient to secure the presidency outright, leading to the final run-off vote.

Prior to that, Milei emerged victorious in Argentina’s primary election in August, competing against Massa and other candidates.

Image Source: Facundo Florit @ Shutterstock

You May Also Like


In the past year, Peloton, manufacturers of stationary exercise bicycles and treadmills, has been experiencing some severe financial difficulties. The company went through a...


While the ongoing supply chain problems affecting the global economy have had the expected effects, they’ve also had some decidedly unexpected effects. Specifically, many...


As gas prices continue to rise and consumer confidence drops, not to mention the ongoing war in Ukraine, the European economy is taking a...


As the environmental need for electric vehicles becomes more pressing, and the car-buying public becomes more eager for them, automotive manufacturers are getting ready...


This morning, Coinbase CEO Brian Armstrong sent a mass email out to his company informing everyone that, as stock and crypto prices slip and...


Last week, a former cybersecurity expert for Twitter, Peiter “Mudge” Zatko, released a whistleblower report on the social platform. In his report, Zatko cited...


Zelle is a peer-to-peer payment app and service that can be used by individuals to send and receive money, in a similar vein to...


Earlier this week, following the third-term victory of Chinese President Xi Jinping, market shares in Hong Kong experienced a sudden, violent sell-off. Xi’s controversial...