Bitcoin Advocate Javier Milei Becomes The New President Of Argentina

Milei Becomes Argentina's New President with 55% of the Votes After 99% Counted in the Second-Round Presidential Elections

Bitcoin supporter Javier Milei secured victory in Argentina's second-round presidential elections on November 19, surpassing his opponent Sergio Massa. According to Bloomberg data, with nearly all votes counted, Milei won with approximately 3 million more votes, capturing 55% of the total votes. The country's economy minister, Massa, congratulated Milei on his victory before official results were announced, as more than 90% of the votes had been tallied. Milei is set to assume office on December 10th.

Long-lasting economic crisis in Argentina has deepened with an inflation rate reaching 140% in the last 12 months, sparking intense debates in the country.

Javier Milei criticized the country's central bank, describing it as a deception and labeling it as a mechanism where politicians deceive good people with inflationary taxes. Argentina's new leader claimed that Bitcoin would lead to a return to the private sector and asserted that it is the true creator of money.

However, in his speech, Milei did not make any statements regarding the legalization of Bitcoin as a payment method in the country.

VIVA LA LIBERTAD CARAJO pic.twitter.com/WzzzZaTcsz

— Javier Milei (@JMilei) November 19, 2023

Milei's opponent Massa's views on cryptocurrencies, money, and the banking sector are completely opposite.

In October, Massa promised to create a central bank digital currency (CBDC) if elected to "resolve" Argentina's long-standing inflation crisis. Massa won the first round of the presidential elections in October, but it was not enough to take the presidency, leading to a runoff.

Previously, Milei had won a victory in the August primary elections against Massa and other candidates in Argentina.