Politics and cryptocurrency merge in Argentina

cryptocurrency in Argentina

Have you ever wondered if Bitcoin has the power to change political landscapes? Well, in Argentina, Bitcoin supporter Javier Milei has not only won the presidential election, but could also spark a revolution in the country’s financial world.

Argentina has a new president

Amid an economic crisis, the Argentine people today went to the runoff vote for the presidential election. The first round took place last month and libertarian economist Javier Milei received 30 percent, while left-wing Economy Minister Sergio Massa received 36 percent of the vote.

The results of the runoff election, which ended at 6 p.m. local time on Sunday (November 19), were announced about two hours later. Surprisingly, Milei won and became the new president of Argentina. Although the official results have not yet been published, Sergio Massa accepted his defeat and congratulated Milei in a speech.

Milei, who is known for his support for Bitcoin, attracted attention with his unconventional stance. The new president made statements in this direction not only in his election campaign, but also before. He described Bitcoin as “a reaction against the fraud of central banks” and emphasized that it is also a way to protect against the effects of inflation.

Politics and cryptocurrency merge in Argentina

The 53-year-old emphasized that Bitcoin’s value does not depend on any government or organization and was therefore created as a globally recognized asset. He viewed BTC’s volatility not as a flaw, but as a distinguishing feature. In a television interview, Milei said: “Bitcoin represents the return of money to its true creator, the private sector.” Argentina’s new leader described the money as an invention of the private sector.

Milei’s posts on his X account about BTC also stand out. In a 2020 post, he encouraged people to watch a free conference on crypto and warned that politicians shouldn’t be allowed to steal your money.

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BTC saw a surge following the Argentine election results. The leading cryptocurrency rose from under $37,000 to over $37,500 in a matter of minutes. A Bitcoin-affirming politician taking the helm of a country – a combination that could perhaps be significant not just for Argentina but for the entire world.

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