Bitcoin Advocate Javier Milei Wins Argentina’s Presidential Run-off

Victorious in Argentina’s presidential run-off election on November 19, Bitcoin-friendly Javier Milei defeated Sergio Massa.

Bloomberg data indicates that Milei won more than 55% of the vote with a nearly 3 million-vote lead after almost 99% was counted.

Massa, the nation’s economy minister, congratulated Milei on his triumph over the ballots, which had been tallied to over 90% before the official results were declared. The date Milei assumes office is December 10.

The enduring inflation crisis in Argentina has generated considerable debate within the South American nation, as the annual inflation rate of the Argentine peso has surpassed 140% over the past twelve months.

Milei has consistently disapproved of the country’s central bank, labeling it a fraudulent enterprise and a “mechanism through which politicians defraud decent people with inflationary taxes.”

A movement toward “the return of money to its original creator, the private sector,” he has described Bitcoin. Nevertheless, he has refrained from indicating any inclination to legitimize Bitcoin within the nation.

Regarding the money, banking, and cryptocurrency industries, Massa’s perspective seems opposed to Milei’s.

He pledged in October that, if elected, he would introduce a central bank digital currency (CBDC) to “solve” Argentina’s protracted inflation crisis.

October marked Massa’s victory in the initial round of the Argentine presidential election. Nevertheless, that failed to secure an unambiguous victory for the presidency, necessitating the final run-off vote.

Before that, in August, Milei defeated Massa and other candidates to win the primary election in Argentina.